Bengaluru — Gold inched up on Wednesday, after declining the most in nearly two weeks in the previous session, as US recession fears triggered by a sharp decline in US treasury yields and weak data weighed on the share markets. Spot gold was up 0.1% at $1,316.09/oz as of 4.19am GMT. US gold futures were also up about 0.1% at $1,315.70/oz. “Investors are very cautious on treasury yield curve inversion, which had proven many times as an early signal for a recession,” said Margaret Yang, a market analyst with CMC Markets, Singapore. Yang said the falling treasury yields gave the market sufficient reason to take some hedging measures, which along with weaker-than-expected US data supported the non-interest bearing gold. US homebuilding fell more than expected in February, while consumer confidence ebbed in March, offering more evidence of a sharp slowdown in economic activity early in the year. Asian shares slipped on Wednesday, giving up small gains made the previous day as investors t...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now