An investor gestures in front of an electronic board showing stock information at a brokerage house in Huaibei, Anhui province. — Reuters pic
Spot gold rose in early trade and touched a fresh record of US$2,025.76 per ounce. Prices have soared 33 per cent so far this year. US lawmakers missed a deadline last week to extend the US$600 per week enhanced unemployment payments. The payments are key element of the Democrats' proposal, but Senate Republicans have proposed to significantly slash the benefits.
Bullion also got a boost as treasury bond yields fell to new lows, National Australia Bank analysts said today. The five-year treasury yield hit a record low and the benchmark 10-year Treasury yield dropped to a five-month trough, indicating dim investor outlook for the US economic recovery.
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