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Spot gold added 0.1% to $1 739.65 an ounce at 12:41 p.m. in Singapore.
By Ranjeetha Pakiam, Bloomberg
8 Apr 2021 08:47
Image: David Gray/Bloomberg
Gold steadied, tracking movements in the dollar and bond yields, with investors weighing the latest insights into the Federal Reserveâs stance on monetary policy and inflation risks.
Minutes from the Fedâs March 16-17 meeting released Wednesday showed officials were united on the need to see more progress on the recovery before scaling back their massive bond-buying program. They also indicated any spikes in inflation which could be a driver for bullion are likely to be transitory. Traders will look for further comments from Chair Jerome Powell, who is due to take part in a panel about the global economy on Thursday.
Gold Holds Decline After Fed Minutes as Dollar, Yields in Focus
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Stocks climb after Powell s remarks; dollar falls
Rita Nazareth and Claire Ballentine, Bloomberg News
BNN Bloomberg s mid-morning market update: April 8, 2021 VIDEO SIGN OUT
Stocks rose as Federal Reserve Chairman Jerome Powell said the central bank has the tools to curb higher inflation, which is expected to be temporary. Treasuries advanced, while the dollar fell.
The S&P 500 climbed toward another record, with trading volume about 20 per cent below the average of the past 30 days. The Nasdaq 100 outperformed amid a rally in giants such as Apple Inc., Tesla Inc. and Amazon.com Inc. Energy producers and banks retreated.
One day after the Fedâs March minutes struck a dovish tone for the path of monetary policy, Powell said the central bank would react if it sees inflation expectations âmoving persistently and materially above levels weâre comfortable with.â He also noted that disparate efforts to vaccinate people globally is a risk to progress f
Stocks Hover Around Record High; Treasuries Steady: Markets Wrap
Bloomberg 50 mins ago Andreea Papuc
(Bloomberg) Global stocks traded around all-time highs Wednesday as the economic rebound from the pandemic and stimulus supported investor sentiment. The dollar dipped and Treasury yields were steady.
A gauge of Asia-Pacific equities rose, aided by a climb in Japan. Toshiba Corp. shares are poised to surge after the company received an initial buyout offer from CVC Capital Partners. U.S. futures were in the green after technology companies led a modest decline in the S&P 500, offsetting gains in retailers. The Nasdaq 100 also retreated. Volume on U.S. exchanges slipped below 10 billion shares for the first time this year.
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