Gold held a decline after positive coronavirus vaccine developments and better-than-expected U.S. manufacturing data lifted sentiment and damped demand for the haven asset.

An early trial of an experimental shot from Pfizer Inc. and BioNtech SE showed it was safe, and prompted patients to produce antibodies. Separately, the Institute for Supply Management said its gauge jumped in June to the highest in more than a year, signaling the resumption of growth as lockdowns ended.

Meanwhile, Federal Reserve officials showed no readiness at their June meeting to commit to yield-curve control, but did reveal an eagerness to provide more guidance in coming months on the path of interest rates and asset purchases, according to minutes Wednesday. Yield caps or targets -- if adopted -- may aid the allure of bullion, which doesn’t offer a yield.

Spot gold -0.2% to $1,767.29/oz at 11:12am in Singapore.

Source : Bloomberg