Gold advanced from the lowest in a month as the sell-off in the U.S. bond market took a breather ahead of key central bank meetings.
Spot gold +0.5% to $1,493.50/oz at 7:42am in London. Prices fell to $1,484.65 on Tuesday, lowest since Aug. 13. Bloomberg Dollar Spot Index steady.
Investors are awaiting the European Central Bank’s policy decision on Thursday and the Federal Reserve’s next week, with some dialing back expectations for more aggressive central bank accommodation. The yield on 10-year Treasuries retreated to 1.71%, after rising nine basis points Tuesday.
Also on traders’ minds Wednesday were comments by an influential newspaper editor who said China will implement measures to ease the impact of the trade war. China separately released a list of items approved for tariff exemptions that did not include corn, soybeans and pork, as some had expected.
Source : Bloomberg