WLTW

Willis Towers Watson Public Limited Company

231.56
USD
-1.19%
231.56
USD
-1.19%
197.63 271.87
52 weeks
52 weeks

Mkt Cap 28.85B

Shares Out 124.61M

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PRECIOUS-Gold prices muted as Fed minutes fail to surprise

May 26 (Reuters) - Gold prices were flat on Thursday, restrained by rising Treasury yields, after its appeal was somewhat restored by minutes from a U.S. Federal Reserve policy meet that showed the central bank was likely to stay the course on interest rate hikes. FUNDAMENTALS * Spot gold held its ground at $1,852.27 per ounce, as of 0057 GMT. U.S. gold futures gained 0.3% to $1,852.30. * Gold pared some dollar strength-driven losses on Wednesday after notes from the Fed's meet suggested the central bank would stick to hiking interest rates by 50 basis points in June and July to combat inflation they agreed had become a key threat to the economy's performance. * Wall Street ended higher as investors were heartened by the fact that Fed policymakers unanimously felt the U.S. economy was very strong as they grappled with reining in inflation without triggering a recession. [MKTS/GLOB] * Higher short-term U.S. interest rates and bond yields raise the opportunity cost of holding bullion, which yields nothing. [US/] * The dollar index edged lower, making bullion less expensive for buyers holding other currencies, and limiting losses. [USD/] * European Central Bank President Christine Lagarde gained key allies for her plan to raise rates out of negative territory this summer, even as one of her own board members on Wednesday expressed some scepticism about the policy path ahead. * SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.2% to 1,069.81 tonnes on Wednesday from 1,068.07 tonnes in the prior day. [GOL/ETF] * Spot silver dipped 0.3% to $21.91 per ounce, while platinum gained 0.6% to $948.93, and palladium rose 0.3% to $2,011.96. DATA/EVENTS (GMT) 0130 Australia Capital Expenditure Q1 1230 GDP 2nd Estimate Q1 1230 Initial Jobless Clm weekly 1230 Retail Sales MM Mar (Reporting by Bharat Govind Gautam in Bengaluru; Editing by Sherry Jacob-Phillips) ((BharatGovind.Gautam@thomsonreuters.com; +91-80-6182-3021/ 3590 (If within U.S. call 651-848-5832 );)) Keywords: GLOBAL PRECIOUS/ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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