Gold Prices Are Rising From The Lowest Level in Nine Months

Gold prices rose Thursday, March 4th, recovering from the lowest level in nearly nine months recorded in the last session, but the US Treasury bond yields that are rising continued to put pressure on the yellow metal, which does not yield a return.

Spot gold rose 0.5% to $1719.21, after falling to its lowest level since the ninth of June at $1,701.40 on Wednesday. And US gold futures rose 0.1% to $1717.50.

While gold is considered a hedge in the face of inflation, the recent increase in US Treasury yields has threatened that situation, as it increases the opportunity cost of owning the yellow metal that does not generate a return.

The US Senate postponed debate on a $1.9 trillion stimulus package to ease the consequences of Covid-19 until at least Thursday.

As for the other precious metals, silver rose 0.4% to $26.17 an ounce, and palladium rose 0.3% to $2361.08. Platinum rose 0.2% to $1,169.68.