2024-01-18T04:49:55+00:00
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/ Gold prices rose in early Asian trading on Thursday, on the back of a weaker dollar and lower U.S. Treasury yields, but remained near five-week lows as investors’ optimism about interest rate cuts faded after hawkish comments from a Federal Reserve official and strong data.
The dollar fell 0.2 percent, making gold priced in the greenback less expensive for holders of other currencies.
Benchmark 10-year US Treasury yields also fell.
Spot gold was up 0.2 percent at $2,010.59 an ounce by 0121 GMT, a day after falling to $2,001.72, its lowest since Dec. 13.
US gold futures also rose 0.3 percent to $2,012.40.
Among other precious metals, spot silver rose 0.4 percent to $22.61 an ounce, platinum rose 0.2 percent to $885.38 and palladium rose 1.2 percent to $926.54 an ounce.