Gold Prices Slide To 1-Week Low on Higher US Bond Yields

Gold Prices Slide To 1-Week Low on Higher US Bond Yields

NEW YORK (Reuters) – Gold futures rose on Tuesday as the dollar stabilized on US Treasury yields amid uncertainty about US tax reform expectations. Besides market players turned their attention to a panel discussion including European presidents, US, British and Japanese central banks for more hints about future monetary policy moves.

Comex gold futures lost around $7.00 to $1,271.74 a troy ounce, after touching its lowest since Nov. 6 at $1,270.59 earlier.

Spot gold was down 0.1 per cent at $1,276.29 per ounce.

MCX Gold futures were down 0.12 per cent, or Rs 36, at Rs 29,575.

European Central Bank President Mario Draghi, outgoing US Federal Reserve Chairman Janet Yellen, Bank of England Chairman Mark Carney and Bank of Japan Governor Haruhiko Kuroda will form an all-star panel on Tuesday at a conference hosted by the European Central Bank in Frankfurt.

It is scheduled to begin the panel discussion, under the title “at the heart of policy: challenges and opportunities of central banking communication,” at about 5:00 am EST Asia (1000GMT).

Indicates bending the curve on both sides of the Atlantic, but more clearly in the United States, that investors have doubts about the path of inflation in the future, and may begin to decline in the case of deflation as the global economy is rising rapidly.

Meanwhile, Republicans are pushing Alkongrson on Monday to adjust the US tax law where he was considered by the Senate this issue, but the risks are still waiting for the main disputes between the parties that have not been settled, President Donald Trump and returned soon from Asia, where heated debate.

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