Gold Corrects Below $4,500 After an 11-Week High at $4,527

Gold is down 0.7% to near $4,490 in the European session on Thursday. It retreats from an 11-week high of $4,527 posted earlier in the day. That is the FXStreet stamp. Yields are clawing back some of Wednesday’s losses after the Treasury long-end buyback.

As of writing on that page, 30-year yields are up 0.5% to near 5.21%. Ten-year yields trade 0.67% higher at around 4.67%. Those are the prints on the gold page. They are not averaged with any other tape.

Jefferies: the buyback does little on deficits

Analysts at Jefferies said the Treasury announcement does “little to address the underlying issues pushing bonds higher, which they said include unsustainable fiscal deficits and rising inflation expectations,” Reuters reported, as FXStreet reprints it.

The same page says markets, citing higher inflation projections from elevated oil and widening government debt, have staged a recovery in US bond yields. Higher yields on interest-bearing assets diminish the appeal of non-yielding gold, it writes. This is the tape. It is not a technical forecast.

Live gold is on prices. The next stamps sit on the economic calendar.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.