By Zhang Mengying
Investing.com – Gold was down on Thursday morning in Asia with an advance in U.S. Treasuries Yields denting bullion demand ahead of U.S. jobs and U.S. inflation data.
inched down 0.08% to $1,855.00 by 10:58 PM ET (2:58 AM GMT). The , which normally moves inversely to gold, inched up on Thursday morning.
advanced to 3.03%, which restrained gold prices.
U.S. Treasury Secretary Janet Yellen said on Wednesday that the Biden administration was seeking to “reconfigure” tariffs on Chinese imports but warned that the cut would not be a “panacea” to ease high inflation.
Adding to the grim global growth outlook, the warned on Wednesday that the war in Ukraine has set the world economic outlook bleaker, slashing its growth forecasts.
Meanwhile, the European Central Bank will hand down its policy decision on Thursday and announce an end to bond purchases.
On the data front, , , and data are due on Friday. China’s trade data is due later in the day.
In Asia-Pacific, The hiked its interest rate on Wednesday to 4.90%, above the forecasts prepared by Investing.com of a hike to 4.80%.
In other precious metals, inched up 0.03%. inched down 0.08% while jumped 0.97%.
