Gold prices remained trading around the same level as the US dollar recorded a lower decline due to a 10-year decline in US treasury yields.
In the Asian session, the precious metal rose slightly with trading hovering around the price level of 1,859 per ounce, while gold futures were positive at $ 1,860 per ounce (12.20 pm Malaysian time).
The 10-year treasury yield benchmark fell from a 10-month high, dragging the US dollar lower during today's trading session.
This to some extent supports the gold trade to be traded positively as well as supported by market concerns over the continued increase in Covid-19 cases around the world, prompting tighter restrictions to be implemented in some countries.
Investors should be reminded that President Joe Biden will launch his coronavirus additional economic stimulus plan tomorrow, in which he has promised to launch trillions of dollars in aid.
This may affect the movement of the yellow gold metal which is seen as a hedge to inflation.
