Gold Softens In Asian Trades

Published on Jan 14, 2021 12:09

Gold fell in Asia today. The metal saw steady gains yesterday as a recovery from a near three week low extended. Traders eyed falling US Treasury yields. The US consumer price index rose by 0.4% in December after edging up by 0.2% in November. Bulk of these gains were due to an 8.4% jump in gasoline prices, which accounted for more than 60% of the overall increase. Excluding food and energy prices, the core consumer price index inched up by 0.1% in December after rising by 0.2% in November. This supported Gold as the benchmark 10 year US yields fell around 4%, easing from 1 year mark following the data. COMEX Gold held up above $1950 on these cues last night but slipped in Asia today. The metal trades at $1942 per ounce, down 0.70% on the day.