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RIYADH: Gold prices were flat on Thursday, restrained by rising Treasury yields ahead of key US jobs and inflation data this week that could influence the Federal Reserve’s rate-hike roadmap for fighting inflation.
Spot gold was unchanged at $1,853.24 per ounce, as of 0303 GMT, while US gold futures eased 0.1 percent to $1,854.70.
Silver up, platinum falls
Spot silver rose 0.2 percent to $22.07 per ounce, while platinum fell 0.3 percent to $1,003.46.
Palladium rose 0.9 percent to $1,960.94, after hitting a near three-week low of $1,930.28 on Wednesday.
Soybeans near 10-year peak
Chicago wheat futures rose for a second session on Thursday, as a lack of progress in talks to resume Ukrainian exports renewed concerns over world grain supplies, underpinning prices.
Soybeans ticked lower, but the market traded near February’s 10-year high on expectations of strong demand for US cargoes, while corn eased for the first time in four sessions.
The most-active wheat contract on the Chicago Board of Trade rose 0.4 percent to $10.79 a bushel, as of 0209 GMT.
Soybeans added 0.1 percent to $17.41-3/4 a bushel, not far from a 2012 high of $17.59 hit in February, while corn lost 0.3 percent to $7.62-1/2 a bushel.
Egypt’s strategic wheat reserves sufficient until end of this year
Egypt has strategic wheat reserves sufficient until the end of this year, a supply ministry official told Reuters on Wednesday.
The country also has strategic reserves of sugar sufficient for five months, vegetable oils for six months, and rice for more than three months, the official added.
(With input from Reuters)