The gold price has steadied going into Tuesday’s trading session as markets appear somewhat lacklustre with the US out for a holiday.
Treasury yields have held onto the gains seen going into the end of last week with the benchmark 10-year bond trading near 3.85%. The policy-sensitive 2-year note is back above 4.90% as markets await the Fed meeting minutes that will be released on Wednesday.
Further hopes of an easing in tensions between the US and China took a hit today after Beijing announced restrictions on the export of gallium and germanium.
The metals are vital for semiconductors, telecommunications and electric vehicles. The move appears to be retaliatory measure for the US promoting chip restrictions to China.