World gold prices on February 7 reversed to increase slightly with spot gold increasing by 10.5 USD to 2,035.4 USD/ounce. Gold futures last traded at 2,052.4 USD/ounce, up 9.5 USD compared to yesterday morning.
World gold reversed slightly when boosted by the weakening of the USD and falling Treasury bond yields. The 0.3% drop in the US Dollar Index increased gold's appeal to buyers holding other currencies. At the same time, the decline in benchmark US 10-year Treasury yields also reduces the opportunity cost of holding gold in interest rates.
World gold reversed slightly when boosted by the weakening of the USD and falling Treasury bond yields. The 0.3% drop in the US Dollar Index increased gold's appeal to buyers holding other currencies. At the same time, the decline in benchmark US 10-year Treasury yields also reduces the opportunity cost of holding gold in interest rates.
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