Institutions: Declining yields support gold price rebound, market awaits the release of the non-farm payroll report

Deep Tide TechFlow News, February 11 — According to Jintiao Data, on Wednesday, both gold and silver prices rose. Spot gold increased over 1% to above $5,070 per ounce, while spot silver rebounded over 5% after a decline of more than 3% overnight, surpassing $85 per ounce. Earlier data showed that U.S. retail sales in December stagnated, causing the dollar and U.S. Treasury yields to fall, providing support for gold and silver prices. Kyle Rodda, senior market analyst at Capital.com, stated, “The decline in yields clearly supports gold today… After weak retail sales data, the market expects the Federal Reserve to cut interest rates more aggressively and sooner than previously thought.” Tim Waterer, chief analyst at KCM Trade, noted in a report, “Whether it’s gold or the dollar, more directional movement may have to wait until the non-farm payroll report is released, as U.S. employment data will influence the Fed’s interest rate path. If January employment data shows weakness, it will help boost gold’s rebound momentum.”