Palladium holds near record high Spot gold to retest resistance at $1,802/oz - technicals (Recasts, adds chart, updates prices)
May 6 (Reuters) - Gold prices rose on Thursday as a pullback in the U.S. dollar and Treasury yields lifted demand for the safe-haven metal, while investors awaited U.S. non-farm payrolls data for April due later this week.
Spot gold was up 0.4% at $1,794.30 per ounce by 0650 GMT. U.S. gold futures rose 0.6% to $1,794.20 per ounce.
“The U.S. Federal Reserve is continuing to push back here, it is good for gold because it’s keeping yields lower. I think this will eventually lead to a weaker U.S. dollar,” said Stephen Innes, managing partner at SPI Asset Management.
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JOHANNESBURG (Reuters) - Emerging market currencies will find support from higher commodity prices and domestic vaccination rollouts this year, despite turbulence in U.S. Treasury yields that could diminish their appeal, a Reuters poll found.
FILE PHOTO: Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/Illustration
Just last week Treasury yields in the United States rose again as traders and investors inferred the Federal Reserve’s tone in last month’s policy meeting was a start to discussion on tapering the bond buying programme, sapping emerging market gains after good a run in April.
Spain's Caixabank on Thursday reported a net profit of 4.79 billion euros ($5.76 billion) in the first quarter thanks to a multibillion accounting gain it banked following the acquisition of state-owned lender Bankia.
By Reuters Staff
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MADRID, May 5 (Reuters) - Spain’s Liberbank, which is in the process of being taken over by bigger rival Unicaja , said on Wednesday its net profit rose 17% in first quarter against the same period a year ago thanks to a growth in revenues from fees and commissions and despite the cost of COVID-19 related provisions.
The lender reported a net profit of 23 million euros ($27.64 million) in the January to March period. Analysts polled by Reuters expected a net profit of 18.8 million euros.
Liberbank set aside 28 million euros in provisions related to the COVID-19 pandemic during the quarter.