September 28, 2021

Gold Gained as the Dollar Softened and US Real Yields Plunged

yesterday settled up by 0.24% at 47573 as the dollar softened and U.S. real yields plunged to a record low, though gains were kept in check on investor caution ahead of a Federal Reserve policy meeting that could provide details on the tapering of asset purchase. Providing a further boost to the metal, the yield on 10-year Treasury inflation-protected securities hit a record low of -1.147%. China’s net gold imports via Hong Kong jumped 41.8% in June from the previous month, Hong Kong Census and Statistics Department data showed. Net imports stood at 30.887 tonnes in June compared with 21.781 tonnes in May, the data showed. Total gold imports via Hong Kong rose to 37.226 tonnes from 26.684 tonnes.  
Gold imports, which have a bearing on the country’s current account deficit, jumped multi-fold to USD 7.9 billion during the April-June 2021 quarter due to the low base effect in the…

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