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Last Updated: 19 February 2021
Janet Yellen, the new Treasury Secretary, has been put in a central role and is expected to push crypto regulations sometime in the next four years. While she has shared mixed feelings towards digital assets, she maintains that her primary objective is investor protection.
Investor Protection Takes Priority
This week, Yellen appeared in a CNBC interview where she touched several topics, including the prospect of crypto regulations. The Treasury Secretary explained that cryptocurrencies would need a special regulatory environment, as the government hopes to protect investors from their speculative nature and propensity to be used in criminal activities.
U.S. Fed officials prepared to keep monetary policy easy Interactive graphic tracking global spread of coronavirus: tmsnrt.rs/3mvcUoa (Updates prices)
Feb 18 (Reuters) - Gold lingered near 11-week lows in choppy trading on Thursday as investor optimism for a global economic recovery raised U.S. Treasury yields and made the precious metal less attractive.
Spot gold inched 0.1% lower to $1,774.21 per ounce at 1:45 p.m. EST (1845 GMT), near its lowest since Nov. 30 at $1,767.20, hit earlier.
U.S. gold futures settled up 0.1% at $1,775.
Recent U.S. data, including manufacturing numbers from the New York Federal Reserve and separate economic readings from the Philadelphia Fed, were very strong and showed “things are starting to come back from the coronavirus slump,” said Bob Haberkorn, senior market strategist at RJO Futures.
Gold price on Friday remained unchanged at Rs 46,690, while
silver price fell by Rs 600 to trend at Rs 69,000 per kg, according to the Good Returns website.
Gold jewellery prices vary across India, the second-largest consumer of the metal, due to differing excise duty, state taxes, and making changes in different states. In New Delhi, the price of 22-carat gold fell by Rs 350 to Rs 45,550 per 10 gm, while in Chennai it inched down to Rs 43,800. In Mumbai, the rate stayed at Rs 45,690 the same as yesterday, according to the Good Returns website.
The price of 24-carat gold in Chennai was down by Rs 160 to Rs 47,780 per 10 gm. In the international market, Gold prices fell to their lowest in more than seven months on Friday, on course for their worst week since the end of November, as rising US Treasury yields eroded the non-yielding bullion s appeal.