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·         Gold for June delivery GCM21  fell 60 cents, or 0.03%, to settle at $1,767.70 an ounce. 

 

·         July silver SIN21 lost 21 cents, or 0.8%, at $25.87 an ounce.

 

·         Based on the most-active contracts, gold fell 0.6% for the week, but saw a monthly rise of about 3% — the first monthly climb of the year so far — while silver ended down around 0.8% for the week, settling up 5.5% for the month, according to FactSet data.

 

·         The yield on the 10-year Treasury note TMUBMUSD10Y, 1.625% was at 1.629% in Friday dealings, trading up for the week, but down for the month. Rising yields can be a headwind for gold because they raise the opportunity cost of holding nonyielding assets.

 

·         Gold remains “influenced by U.S. Treasury yields, the dollar’s performance, reflation trade, and global risk sentiment,” said Lukman Otunuga, senior research analyst at FXTM.

 

·         “Given the conflicting forces pulling and tugging at the precious metal, the next few weeks could be wild and rocky,” he warned. In the short term, “gold is likely to remain choppy on the daily charts until a fresh directional catalyst is brought into the picture.”

 

·         Gold had “a challenging week and has been seeking direction given a number of conflicting factors, which include inflation, the U.S. dollar and U.S. GDP”, Jeff Wright, chief investment officer at Wolfpack Capital, told MarketWatch.

 

·         While stuck in a trading range, the precious metal has “continued to be challenged in finding traction when fundamentals show it should be appreciating more,” he said, adding that the Biden administration’s spending proposals “should be more of a boost for gold.”

 

·         Wright said he’s still focused on the U.S. dollar, inflation and other signs of recovery going into May and that gold will be “range bound at best” from $1,700 to $1,800 in the near term, “with a lack of safe-haven interest even when tensions have risen related to events around the globe.”

 

·         Gold losing its shine for India amid deepening Covid-19 crisis

 

Spiraling coronavirus cases may cripple demand for gold and jewelry in India, one of the leading global markets for the precious metal, the World Gold Council (WGC) said.

 

India saw increased purchases of gold in the first three months of the year, with its official imports hitting a decade high of 164 tons in March. It was driven by robust consumer demand, including pent-up demand from weddings postponed from 2020, as well as stock building among the trade ahead of key festivals such as Akshaya Tritiya in May.

 

 

·         Warren Buffett says U.S. economy's unexpected strength benefits Berkshire

 

Warren Buffett said on Saturday that Berkshire Hathaway Inc is being lifted by a U.S. economy faring far better than he predicted early in the coronavirus pandemic, though investor euphoria is making it hard to deploy cash.

·      ·      Germany orders Deutsche Bank to do more to prevent money laundering

 

·      ·     Germany, France, Spain aim for fighter jet agreement next week

Disagreements over intellectual property rights mean Germany, France and Spain have yet to agree the next steps for a joint fighter jet project, the defense ministry in Berlin said on Saturday after a deadline to find a solution ran out

 

·         Australia’s Perth at risk of second snap-lockdown with three new COVID-19 infections

 

·         China says its carrier group conducts exercise in South China Sea

 

China’s Shandong aircraft carrier task group recently conducted an exercise in the South China Sea, the country’s People’s Liberation Army (PLA) said on Sunday.

 

 

·         India April trade deficit at $15.24 billion -trade ministry

 

 

·         N. Korea says Biden policy shows hostile U.S. intent, vows response

 

 

·         Iran negotiator: based on accords so far, U.S. sanctions on oil, banks would be lifted

 

Iran’s chief nuclear negotiator said on Saturday Tehran expects U.S. sanctions on oil, banks and most individuals and institutions to be lifted based on agreements so far in Vienna talks, Iranian media reported, while Washington again played down the prospect of an imminent breakthrough.

 

·         North Korea says Biden policy shows hostile U.S. intent, vows response

 

North Korea lashed out at the United States and its allies in South Korea on Sunday in a series of statements saying recent comments from Washington are proof of a hostile policy that requires a corresponding response from Pyongyang.

 

The statements, carried on state news agency KCNA, come after the White House on Friday said U.S. officials had completed a months-long review of North Korean policy, and underscore the challenges U.S. President Joe Biden faces as he seeks to distinguish his approach from the failures of his predecessors.