Gold Snaps Slump as Gains in the Dollar, Treasury Yields Recede
- Dollar falls as currency’s 2021 rebound takes a break
- Treasury yields pare advance after strong note auction demand
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Gold headed for its first gain in five sessions as U.S. Treasury yields ebbed and the dollar declined, reviving demand for the metal as an alternative asset.
The Bloomberg Dollar Spot Index fell as much as 0.6% on Tuesday, while long-end Treasury yields reversed their advance as a reopening sale of 10-year notes received a solid reception. Gold also got help from increasing inflation expectations as President-elect Joe Biden is set to release plans for a multitrillion-dollar stimulus package.