Gold Price Moderately Stable Despite Yellen’s Comments
Jun 16, 2021
Last week, the U.S.Treasury Secretary Janet Yellen commented on the expectations for fiscal spending and inflation, which would push treasury yields even higher. In the news conference, Yellen urged other countries to continue spending in order to support their economies even as the coronavirus pandemic diminished, noting that U.S. inflation in 2021 would be transitory but elevated.
Spot gold only increased moderately by 0.1%, going up to nearly $1,893 while U.S. gold futures increased to $1896, a 0.2% rise…
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