A worker loads 12,5kg gold ingots onto a trolley ready for distribution at the JSC Krastsvetmet non-ferrous metals plant in Krasnoyarsk, Russia. Picture: BLOOMBERG/ANDREY RUDAKOV
Further aiding gold’s climb, the dollar index eased 0.2% from a 16-month peak scaled earlier this week, while US benchmark 10-year treasury yields also weakened.But the metal was heading for its worst week since August 6 on increased expectations that the Fed could taper its asset purchases and raise interest rates at a faster pace.
Reduced stimulus and interest rate hikes tend to push government bond yields up, raising the opportunity cost of non-interest bearing gold.
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