Gains in Asia helped to counter the pullback in Europe to keep the MSCI all country stock index in positive territory, up 0.16% at 728 points, but still down about 3.8% so far this year.
(Reuters) - Gold prices eased on Tuesday, pressured by higher U.S. Treasury yields, as investors looked for clues about the Federal Reserve's interest rate hike timeline from its policy meeting next week.
Each of the region's major markets, apart from some Chinese indexes, gave up their earlier gains.
Asia's share markets were mostly higher even as global investor attention remains fixed on the prospect of US interest rate hikes in the next few months
Net investment in Indian equity market lowest in 19 months
With U.S. markets closed for a public holiday, spot gold rose 0.2% to $1,820.50 per ounce by 1412 GMT, while U.S. gold futures had inched 0.2% higher to $1,820.50
Gold prices eased on Monday, as U.S. Treasury yields gained on hawkish signals from the Federal Reserve and markets began to price in a sooner-than-anticipated reduction in balance sheet
US Federal Reserve officials signaled this week that the central bank could start raising interest rates in March as the country's annual inflation surged to an almost 40-year high in December 2021
Historically, there has been a high positive correlation between the changes in the US Federal balance sheet and the changes in the Indian equity markets
The three nominees, who will have to be confirmed by the Senate, would fill out the Fed's seven-member board
At 0835 GMT the MSCI world equity index, which tracks shares in 50 countries, was down 0.2%, having fallen overall so far in January.
Fed Governor Lael Brainard became the latest and most senior US central banker on Thursday to signal that rates will rise in March to combat inflation.
Raskin, a former Fed governor and Treasury official under former President Barack Obama, will replace Randal Quarles who was appointed the Fed's vice chair for supervision by Trump
The White House sent the nominations to the Senate late on Thursday
Gold prices eased on Wednesday as traders kept an eye out for US inflation data for rate clues after less hawkish comments from the Federal Reserve chief
The dollar slid to its weakest since November against major peers after Federal chief Jerome Powell said it may take several months to make a decision on balance sheet
US Federal Reserve Chair, Jerome Powell has said that the central bank could start to shrink its balance sheet later this year.
He said the economy's fast-paced recovery from Covid was giving rise to persistent supply, demand imbalances
Powell told the Democratic-controlled panel that stabilizing prices was necessary to keep an economic expansion and employment growth underway.
US Federal Reserve Chair Jerome Powell said hat the central bank will use its tools to prevent higher inflation from becoming entrenched while supporting the economic recovery.