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Gold Pushes Higher After Best Quarter in Four Years


Wednesday, 1 July 2020 15:19 WIB

GOLDEMAS


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Gold is continuing to rise after setting its best quarter in four years due to coronavirus concerns and negative real interest rates.

Spot gold is up 0.5% at $1,788.75 a troy ounce, while futures are up 0.3% at $1,805.80 an ounce. Investors are watching U.S. inflation-adjusted Treasury bonds for gold clues. Those bond's yields--known as real yields--are currently negative, meaning investors must pay to own them. This makes gold a more attractive haven and a cheaper hedge against inflation.

"The negative relationship between U.S. 10 year real yields and gold has been the most reliable relationship in the past. In our view, the relationship will likely hold true for the foreseeable future, " says Vivek Dhar at CBA.

Source : Bloomberg


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