July 27, 2021

PRECIOUS-Gold turns positive as dollar and U.S. yields slip

* Investors await results of ECB strategy review on Thursday

* Benchmark U.S. yields hit more than four-month low (Recasts, adds detail, updates prices)

July 8 (Reuters) – Gold prices reversed course to trade higher on Thursday as the U.S. dollar eased and yields extended their downward momentum, making non-yielding bullion more appealing to investors.

Spot gold rose 0.4% to $1,811.10 an ounce by 0914 GMT. U.S. gold futures were up 0.7% at $1,814.70.

“The general view for gold is upwards … and the one obstacle in the market that prevents gold from rising and pulls it back is the dollar. With the dollar weakening somewhat, the metal is up again,” said Commerzbank analyst Carsten Fritsch.

The dollar index, which measures the greenback against six other leading currencies, edged 0.1% lower. A weaker dollar makes gold more affordable for other currency holders.

Benchmark U.S. 10-year…

Read full article here: www.reuters.com