© Reuters.
By Gina Lee
Investing.com – Gold rose in Asia on Monday morning as the latest US stimulus measures kept inflation fears up, although the resulting rise in treasury yields limited profits.
rose 0.31% to $ 1,725.15 at 12:09 ET (04:09 GMT), which held above the $ 1,700 mark.
U.S. President Joe Biden signed the $ 1.9 billion stimulus package into law on Friday, dropping returns on standard ten-year notes. Yields were nearing their highest level in more than a year due to continued optimism about the continued US economic recovery from COVID-19.
On the central banking front, there are a slew of policy decisions in the coming week. The Federal Reserve announced its policy decision on Wednesday, followed by the Bank of England on Thursday and the Bank of Japan on Friday.
According to US data released on Friday, the producer price index (PPI) rose by 0.5% in February, compared to the 0.5% growth in Investing.com’s forecasts. It rose by 2.8%, compared to the forecast of 2.7%.
The core PPI grew by 0.2% and 2.5%, respectively.
Other information released Friday said hedge funds and money managers withdrew their position in COMEX gold and silver contracts in the week to March 9. of gold and bonds in the week to March 10th.
In other precious metals, Silver rose by 0.9%. and platinum increased by 1%. Palladium decreased by 0.1%.
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