MTECHTIPS;-Gold / Silver / Copper futures – weekly outlook: July 3 – 7

MTECHTIPS;-Gold / Silver / Copper futures – weekly outlook: July 3 – 7

MTECHTIPS-Gold prices were lower at the close on Friday and posted their first weekly decline since March as a rise in global bond yields curbed investor demand for the precious metal. Gold for August delivery closed down 0.27% at $1,242.48 on the Comex division of the New York Mercantile Exchange, bringing the week’s losses to 1.27%. The precious metal still ended the first half of the year with a gain of 8%, boosted by a decline in the dollar to its lows of the year. Gold prices came under pressure amid indications that several major central banks around the world are getting ready to join the Federal Reserve in tightening monetary policy. Investor expectations mounted for tighter monetary policy across the globe after the heads of the European Central Bank, the Bank of England and the Bank of Canada adopted a more hawkish view on monetary policy.Hawkish signals from foreign  central banks contrasted with doubts over whether the Federal Reserve will be able to hike rates again this year given a recent batch of weak U.S. economic data and growing skepticism that the Trump administration will be able to deliver on its pro-growth agenda. Benchmark U.S. Treasury yields and German 10-year government bond yields hit five-week highs and the euro hit 14-month peaks as investors assessed the likelihood that the ECB could soon start to unwind its quantitative easing program

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