2024-02-28T05:01:06+00:00
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/ Gold prices stabilized on Wednesday, as a decline in US Treasury yields partially offset a rise in the dollar, while traders are awaiting key inflation data and comments from Federal Reserve officials this week to determine when the central bank is likely to cut interest rates.
Spot gold was steady at $2,030.57 an ounce by 03:55 GMT. U.S. gold futures fell 0.2 percent to $2,039.70 an ounce.
The yield on the 10-year U.S. Treasury note fell to 4.2914% from 4.3150% on Tuesday, while the dollar index fell.
On the technical front, spot gold could retest support at $2,025 per ounce, and a break below could be followed by a drop to $2,015 per ounce, according to Reuters market analyst Wang Tao.
Spot platinum fell 0.1 percent to $887.20 an ounce, while palladium fell 0.5 percent to $931.57 an ounce, while silver rose 0.1 percent to $22.45 an ounce.