Gold rebounds over 1% as US dollar, yields pull back from highs
GLD•Other metals gain
Elsewhere, the Dutch central bank said it had transferred 86 metric tons of gold from New York and Ottawa to London over the past six months to improve tradability and bolster crisis preparedness.
Among other metals, spot silver XAG= gained 1.2% to $65.03 per ounce, platinum XPT= rose 0.9% to $1,756.39, and palladium XPD= rose 3.18% to $1,352.74.
Gold bounces as dollar and yields retreat
Sept. 2 (Reuters) - Gold bounced from a near one-month low on Wednesday as the U.S. dollar and Treasury yields retreated from recent highs, while investors awaited U.S. payrolls data due later this week for cues on the Federal Reserve's policy path.
Spot gold XAU= rose 1.1% to $4,376.41 an ounce by 01:57 p.m. EDT (1757 GMT), rebounding from its lowest level since August 7 hit earlier in the session. U.S. gold futures GCcv1 for December delivery edged 0.4% higher to settle at $4,414.60.
Traders watch yields, payrolls and Fed signals
"One of the reasons that gold has been able to move back above unchanged is we have seen a little tick down in yields for the day and that has allowed gold to bounce off some of the recent lows," said David Meger, director of metals trading at High Ridge Futures.
"Clearly, the energy complex and yields remain a major focus for the gold market moving forward."
U.S. Treasury yields eased after touching multi-year highs earlier in the session, as oil prices eased and investors gauged the latest round of economic data.
The dollar also slipped from a near three-week peak.
Federal Reserve Bank of New York President John Williams said rising long-term bond yields are not driven by inflation fears but are instead a reflection of a solid economy.
