gold market

Gold on back foot ahead of Biden's US stimulus plan
Markets

Gold on back foot ahead of Biden's US stimulus plan

  • Spot gold was 0.2% lower at $1,840.40 per ounce.
  • Optimism over a report that Biden could launch a $2 trillion aid package for coronavirus relief pushed benchmark 10-year Treasury yields towards a 10-month high.
Published 14 Jan, 2021 07:49pm
Gold-backed ETFs end record 2020 with second month of outflows
Markets

Gold-backed ETFs end record 2020 with second month of outflows

  • Gold is traditionally used as a safe store of wealth, and investors rushed to hoard it as the pandemic swept through the global economy.
  • ETFs grew their holdings by 876 tonnes in 2020 - equivalent to around a quarter of the annual output of the world's gold mines.
Published 13 Jan, 2021 07:26pm