WASHINGTON (dpa-AFX) - Gold prices were mixed on Wednesday after a slight retreat in the U.S. dollar and the 10-year Treasury yield.
Spot gold was marginally higher at $1,951.06 per ounce while U.S. gold futures dropped 0.4 percent to $1,951.65.
German government bond yields fell today but were still at multi-year highs due to expectations around inflation and higher interest rates.
The 10-year Treasury yield shed 7 basis points as investors assessed growth challenges from the Ukraine war and the potential for a peak in inflation.
Chicago Fed President Charles Evans said on Tuesday that he favours two half-point rate hikes at upcoming meetings and move rate to 2.25-2.50 percent by the end of the year.
Atlanta Fed president Raphael Bostic said that a 75-basis point rate hike is not on the cards and expressed concerns about the impact of faster policy tightening on the U.S. economic recovery.
Bostic added that the neutral rate could be between 2 percent and 2.5 percent and the funds rate could be as low as 1.75 percent.
Meanwhile, China's central bank maintained the one-year loan prime rate at 3.7 percent and the five-year rate at 4.6 percent, defying expectations for a reduction.
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