London: US Treasury yields stabilised yesterday after Federal Reserve Chair Jerome Powell indicated the US central bank would raise interest rates by bigger-than-usual amounts if necessary to bring down inflation that was running "much too high."
The price of gold in spot transactions settled at the level of $1936.03 an ounce, and the US gold futures contract rose 0.5 percent to $1938.80 an ounce.
The yield on the benchmark 10-year Treasury note jumped above 2.3 percent for the first time since May 2019.
The price of palladium used in the auto industry fell 0.4 percent to $2574.04 an ounce, the price of silver in spot transactions rose 0.5 percent to $ 25.33 an ounce, and platinum increased 0.2 percent to $1039.46 an ounce.
