U.S. markets open in 58 minutes
  • S&P Futures

    4,136.50
    +3.75 (+0.09%)
     
  • Dow Futures

    33,586.00
    +16.00 (+0.05%)
     
  • Nasdaq Futures

    14,017.50
    +41.75 (+0.30%)
     
  • Russell 2000 Futures

    2,231.00
    +6.10 (+0.27%)
     
  • Crude Oil

    61.13
    +0.95 (+1.58%)
     
  • Gold

    1,745.00
    -2.60 (-0.15%)
     
  • Silver

    25.45
    +0.02 (+0.09%)
     
  • EUR/USD

    1.1967
    +0.0013 (+0.11%)
     
  • 10-Yr Bond

    1.6230
    0.0000 (0.00%)
     
  • Vix

    16.35
    -0.56 (-3.31%)
     
  • GBP/USD

    1.3763
    +0.0011 (+0.08%)
     
  • USD/JPY

    108.9100
    -0.1380 (-0.13%)
     
  • BTC-USD

    64,351.14
    +1,641.18 (+2.62%)
     
  • CMC Crypto 200

    1,387.70
    +93.71 (+7.24%)
     
  • FTSE 100

    6,913.32
    +22.83 (+0.33%)
     
  • Nikkei 225

    29,620.99
    -130.61 (-0.44%)
     

Gold Down, Potential U.S. Stimulus Measure Stokes Inflation Fears

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Gina Lee

Investing.com – Gold was down on Thursday morning in Asia, as a potential U.S. stimulus measure totaling more than $2 trillion stoked inflation fears.

Gold futures edged down 0.18% at $1,712.50 by 1:20 AM ET (5:20 AM GMT).

U.S. President Joe Biden on Wednesday unveiled a $2.25 trillion, eight-year “American Jobs Plan” that for $620 billion to be spent on transportation and a further $650 billion for initiatives such as cleaner water and high-speed broadband.

The plan was promptly met with Republican resistance and saw U.S. government bond yields rise as fears rose that inflation would also rise.

Investors also digested economic data out of Asia released earlier in the day. China’s Caixin manufacturing Purchasing Managers Index (PMI) for March disappointed, reading 50.6 against the 51.3 in forecasts prepared by Investing.com and February’s 50.9 reading. It was a more positive story in Japan, where the Tankan Large Manufacturers Index was at 5 for the first quarter of 2021, above the –15 in forecasts prepared by Investing.com and the –10 reading in the fourth quarter of 2020. The Tankan Large Non-Manufacturers Index was at –1, against the –5 reading in both Investing.com forecasts and the fourth quarter of 2020.

Meanwhile, the World Trade Organization raised its growth forecast for global goods trade for 2021 slightly. It added, however, that the outlook was clouded by risks from the rollout of COVID-19 vaccines and reports of a new, vaccine-resistant strain of the virus.

In other precious metals, silver inched down 0.1%, platinum was down 0.3% and palladium edged down 0.1%.

Related Articles

U.S. envoy Kerry heads to India to try and lift 'climate ambition'

Oil Up, Expectations of OEPC+ Output Restraint Continue

USTR vows to keep battling 'significant' foreign trade barriers