Tue. Jan 31st, 2023

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Gold prices higher

1 min read

Gold bars

Gold prices edged up on Wednesday as a recent rally in the U.S. dollar and Treasury yields hit a pause, while rising coronavirus cases worldwide also boosted appeal for the safe-haven metal.

Spot gold rose 0.1% to $1,856.86 per ounce by 0052 GMT, while U.S. gold futures gained 0.8% to $1,858.10.

Benchmark 10-year Treasury yields pulled back from 10-month highs, dragging the dollar lower and making gold cheaper for other unit holders.

Global coronavirus infections rose to more than 91 million, with several Asian and European countries enforcing stricter restrictions to curb the spread of the virus.

Silver was steady at $25.57 an ounce. Platinum rose 0.3% to $1,078.80, while palladium eased 0.4% to $2,382.44.

The Donald Trump administration said on Tuesday it is releasing millions of Covid-19 vaccine doses it had been holding back for second shots and urged states to offer them to all Americans over age 65 or with chronic health conditions.

The U.S. House of Representatives plans to vote as soon as Wednesday on an article of impeachment charging President Trump with inciting insurrection after his supporters stormed the Capitol.

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