Reuters | Jan 22, 2021 09:20
Jan 22 (Reuters) - Gold eased on Friday as U.S. Treasury
yields edged higher, although prices were set to post their best
week in five helped by a weaker dollar and further stimulus
* Spot gold XAU= fell 0.1% to $1,867.34 per ounce by 0046
GMT. On Thursday, prices hit their highest since Jan. 8 at
$1,874.86. U.S. gold futures GCv1 gained 0.1% to $1,867.80.
* For the week, spot gold was up 2.2%, it's biggest increase
since the week of Dec. 18.
* U.S. Treasury yields on the longer end of the curve rose
along with inflation expectations on Thursday as the market eyed
the prospect for additional debt supply under the new U.S.
* Higher yields increase the opportunity cost of holding
* The dollar .DXY fell to an over one-week low in the
previous session, making gold cheaper for holders of other
* U.S. weekly jobless claims decreased modestly last week as
the pandemic continued to hammer the labor market. * The European Central Bank reaffirmed its pledge to keep
borrowing costs at record lows on Thursday to help the economy
weather the pandemic. * Silver XAG= shed 0.2% to $25.89 an ounce, but was set to
register its best week in five, up 4.6% so far this week.
* Platinum XPT= was flat at $1,126.78 and was up 4.9% for
the week, its best since early December.
* Palladium XPD= gained 0.1% to $2,364.41.
0700 UK Retail Sales MM, YY Dec
0700 UK Retail Sales Ex-Fuel MM Dec
0815 France Markit Mfg, Serv, Comp Flash PMIs Jan
0830 Germany Markit Mfg, Serv, Comp Flash PMIs Jan
0900 EU Markit Mfg, Serv, Comp Flash PMIs Jan
0930 UK Flash Mfg, Serv, Comp PMIs Jan
1445 US Markit Mfg, Serv, Comp Flash PMIs Jan
1500 US Existing Home Sales Dec
Written By: Reuters
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