Gold set for second monthly decline
US gold futures fall as inflation fears boost US Treasury yields
26 February 2021 - 08:19
Bengaluru — Gold inched higher after hitting a one-week low on Friday, but headed for a second straight weekly and monthly decline as brighter economic outlook and inflation fears propped up US Treasury yields.
Spot gold was up 0.2% to $1,773.06/oz at 3.03am GMT, having earlier fallen to its lowest since February 19 at $1,764.90/oz. Prices were down 0.6% for the week and 4% for the month so far. US gold futures fell 0.2% to $1,771.80/oz on Friday. Prices had dropped 1.9% on Thursday as benchmark US Treasury yields hit their highest since the pandemic began, lifting the dollar...
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