This post was originally published on this site.Lower yields help gold recover Gold fell sharply Friday as risk-off sentiment dominated trading. Today, the focus has shifted toward lower Treasury yields, helping gold recover some of that decline. The U.S. 10-year yield is down 5.0 basis points at 4.87%. Gold typically benefits from falling yields because it pays no interest. When bonds offer a lower return, the opportunity cost of holding gold falls, making the metal relatively more attractive. The rebound is also getting help from a successful test of a key technical support level. Buyers lean against the 100-week moving...

This post was originally published on this site.Today’s U.S. economic data gave buyers and sellers something to work with. Manufacturing continues to expand, but a sharp decline in construction spending and stubborn inflation pressures cloud the broader outlook. The data lean mildly bullish for manufacturing activity, but offer a less convincing signal for stocks. The stronger bullish influence is coming from the Middle East, where renewed hopes for U.S.–Iran diplomacy and sharply lower oil prices are helping buyers regain some control after a difficult October. ISM manufacturing strengthens, but price pressures remain elevated The ISM manufacturing report provided the strongest...