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 growth stagnated in December, causing the dollar and U.S. Treasury yields to fall in response, supporting gold and silver prices. Capital.com senior market analyst Kyle Rodda 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.” KCM Trade chief analyst Tim Waterer noted in a report, “Whether it’s gold or the dollar, a more directional move may have to wait until the non-farm payroll report is released, as U.S. employment data will influence the Fed’s rate path. If January employment data shows weakness, it will help boost gold’s rebound momentum.”