Gold Silver Reports – Gold Prices Kiss 4-Year Weekly High as $4 Trillion of US Debt Faces BondMarket – Gold Prices neared their highest weekly finish against the Dollar in almost 4 years on Friday, trading 3.0% up for the week asthe US currency extended its drop on the FX market.
Gold Prices Kiss 4-Year Weekly High
Friday-morning’s benchmarking auction in London set the highest AM gold price since late January’s 17-monthhigh, finding a balance of buying and selling demand at $1358.60 perounce.
An afternoon LBMA Gold Price above $1354.25 would mark bullion’s highest weekly finish in US Dollar terms since mid-March 2014.
Back then, 10-year USTreasury yields stood at 2.65% against today’s level of 2.88%
Two-year yields, in contrast, have jumped from 0.36% to 2.19% in nominal terms, taking shorter-term Dollar interest rates to their highest in almost a decade.
Adjusted byinflation, real 2-year rateshave risen fromminus 1.2% to nearly 0% on the latest US consumer-price index.
Only one month since 2012 has seen gold prices avoid a drop from fouryears’ previously when real 2-year US Treasury yields rose one percentage point or more across the same time-frame. – Goldman Neal Bhai Reports