In bond markets the ocean of liquidity provided by global central banks are keeping prices buoyed so that yields on 10-year U.S. paper enjoyed their lowest close since mid-April at 0.5774 percent and the whole yield curve flattened, Reuters reports. The combination of loose money and negative real bond yields has burnished the attractiveness of gold, which pays no yield but is supply constrained. The precious metal was last at US$1,1886 an ounce having climbed by 4.2 percent so far this week to its highest since September 2011. That put it within striking distance of the all-time peak at US$1,920.

Source: The Standard July 24, 2020 01:52 UTC