Gold high in Asia on Thursday morning, thanks to an eight-week high against the weak dollar and the US. Treasury yields fell.
11:54 PM ET Gold futures rose 0.04% to $1793.80. The U.S. The 10-year Treasury yield was down 1.6% and the dollar was down on Thursday.
The U.S. The Senate committee on Wednesday backed a bill targeting China and the U.S. It was proposed to closely examine foreign donations to colleges and universities. The passage of the bill will enable the U.S. to focus on technology and key manufacturing industries. Aimed at increasing competitiveness, it raised tensions between the two countries.
U.S. Lawmakers also introduced a separate bill that would require billions to fund technological research, and the economy is expected to grow at its most rapid annual pace in decades by 2021, although an increase in the latest COVID-19 cases could slow that pace.
According to Johns Hopkins University data, the number of COVID-19 cases worldwide has exceeded 143 million and as of April 22, more than three million have died.
Meanwhile, investors are expected to announce a European Central Bank policy decision next week in the U.S. They also expect the Federal Reserve to decide.
Investors will focus more on these decisions after the Bank of Canada signals that it may start raising interest rates in late 2022 after slowing down bond-buying, which is the first of seven groups to move towards reversing the unprecedented stimulus measures.
Among other precious metals, silver was down 0.1%, platinum 0.2%, and palladium 0.1%.