NAB – The Morning Call · Gold's new high, bond yields head lower, as US Congress goes nowhere
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Gold’s new high, bond yields head lower, as US Congress goes nowhere

Wednesday 5th August 2020

Treasury bond yields are reaching new lows, which has heightened the appetite for gold, with Comex finally remaining above the $2,000/ounce mark. NAB’s Tapas Strickland says there’s uncertainty in equity markets, driven by the continuing stand-off over the next phase of fiscal stimulus for the unemployed in the US, a number which shows signs of rising. Unemployment could reach 10 percent in Australia, according to the baseline forecast from the RBA – we’ll get the details on Friday. There’s a round of PMI releases later on – Tapas talks through them.

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