Financial Digest

Gold edges higher as traders return their attention to safe-haven assets

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‘Investors are very cautious on treasury yield curve inversion, which had proven many times as an early signal for a recession,’ says Margaret Yang from CMC Markets

A salesperson is seen at his gold shop in Gold Souq in Dubai, United Arab Emirates. Picture: REUTERS/HAMAD I MOHAMMED

Spot gold was up 0.1% at $1,316.09/oz as of 4.19am GMT. US gold futures were also up about 0.1% at $1,315.70/oz. Yang said the falling treasury yields gave the market sufficient reason to take some hedging measures, which along with weaker-than-expected US data supported the non-interest bearing gold.

Asian shares slipped on Wednesday, giving up small gains made the previous day as investors tried to come to terms with a sharp shift in US bond markets and the implications for the world’s top economy.

 

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