Gold prices remained under pressure this week, touching their lowest level in almost six weeks in the $1,816 area amid surging US Treasury yields and a firmer dollar. Longer-term yields have been climbing amid growing expectations that a Democrat-controlled Congress and White House will push for further stimulus to aid the coronavirus-battered economy. However, more treasury spending will increase the US budget and current account deficits, bolstering the metal’s appeal as an inflation hedge.
