Gold prices rose, as fears of high infections with the mutated Delta strain of the Corona virus outweighed pressures from the rise of the dollar and bond yields, while investors awaited inflation data in the United States. The United States, due to be released later today, Wednesday.
Spot gold rose 0.2% to $1,732.61 an ounce, while US gold futures rose 0.1% to $1,733.90.
Continuing delta virus fears provided some safe haven flows for gold in the Asian session, said Stephen Innes, managing partner at SBI Asset Management. The yellow metal is still facing difficulties to recover from the sudden collapse witnessed on Monday.
Obviously, with the Federal Reserve's statements taking a more hawkish trend, accompanied by strong non-farm payrolls data, Ince continued. In the United States, the markets are somewhat concerned about raising gold.
Risk appetite remains weak in the broader financial markets, as coronavirus infections continue to rise in several Asian countries, threatening the economic outlook and pushing some investors towards haven assets. Safe.
But the dollar index held near its highest level in three weeks against its competitors, while US Treasury yields reached their highest level since mid-July.
Investors are now awaiting the monthly US personal consumption report due today, which may influence the time frame for the US central bank to scale back its monetary support.
For other precious metals, silver gained 0.2% to $23.38 an ounce. Platinum rose 0.7% to $ 1001.76, and palladium settled at $ 2642.69.
