Gold Heads for Third Weekly Gain as Yields, Dollar Trend Dow

Gold Heads for Third Weekly Gain as Yields, Dollar Trend Down


Gold Heads for Third Weekly Gain as Yields, Dollar Trend Down
Bloomberg
1 hr ago
Eddie Spence
(Bloomberg) -- Gold is headed for a third straight weekly gain as bond yields and the dollar continued their downtrend after surging at the start of the year.
Applications for U.S. state unemployment insurance unexpectedly plunged to a fresh pandemic low, weighing on demand for haven assets and pushing bullion down from the highest in nine weeks. The metal did trim its loss after Bloomberg reported President Joe Biden would propose almost doubling the capital gains tax for wealthy individuals, which hammered U.S. stocks.

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