15 January, 2021
Gold rose on Friday on fresh coronavirus-led lockdowns in Europe and on dovish policy cues from the U.S. Federal Reserve. Tighter lockdowns in Germany and France as well as new COVID-19 restrictions in China cut into optimism about a global economic recovery. The gold market also found support from comments from the U.S. Federal Reserve chairman, suggesting no change in interest rates, Hansen added. Jerome Powell on Thursday said the U.S. economy still remains far from its inflation and employment goals, and that an interest rate increase would come "no time soon". But a resilient dollar remained a headwind for bullion, with Benchmark 10-year Treasury yields holding close to near 10-month highs touched earlier in the week.