gold price: Gold slips as risk appetite improves
FUNDAMENTALS
* Spot gold was down 0.1% at $1,801.82 per ounce, as of 0040 GMT, after hitting a more than one-week low of $1,793.59 in the previous session.
* U.S. gold futures eased 0.1% at $1,801.90 per ounce.
* The dollar index held close to a 3-1/2-month peak against its rival, making gold more expensive for holders of other currencies.
* Markets added to gains on Wednesday and yields climbed due partly to positive corporate earnings, as investors largely overlooked apprehension about the Delta coronavirus variant and inflation.
* The yield on 10-year Treasury notes continued their bounce from five-month lows following a weak 20-year bond auction. Higher bond yields increase the opportunity cost of holding non-interest bearing gold.
* The European Central Bank is all but certain to promise an even longer period of stimulus on Thursday to make good on its commitment to boost inflation.
* U.S. President Joe Biden said the current uptick in consumer prices will be short lived as the U.S. economy emerges from the global COVID-19 crisis, adding that his economic plan will reduce inflation over the long term.
* U.S. Senate Republicans blocked a move to open debate on Wednesday on a $1.2 trillion bipartisan infrastructure measure that is a top priority for President Biden.
* Silver was steady at $25.23 per ounce, palladium rose 0.3% to $2,661.17, and platinum was flat at $1,079.99.
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