<p>Gold prices edged higher on Wednesday, hovering near a seven-week peak hit earlier this week, as a weaker dollar and a retreat in US Treasury yields lifted demand for the safe-haven metal.</p>.<p>Spot gold was up 0.1% at $1,779.55 per ounce by 01:10 GMT, after hitting its highest since February 25 at $1,789.77 on Monday.</p>.<p>US gold futures edged 0.1% higher to $1,779.60 per ounce.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/business-news/dollar-licks-wounds-after-drop-to-7-week-low-amid-lower-us-yields-976760.html" target="_blank">Dollar licks wounds after drop to 7-week low amid lower US yields</a></strong></p>.<p>The dollar index fell 0.1% against its rivals after touching a near seven-week low in the previous session, making gold less expensive for other currency holders.</p>.<p>Benchmark 10-year US Treasury yields dropped below 1.6%, reducing the opportunity cost of holding non-yielding bullion.</p>.<p>New Zealand's consumer price index (CPI) rose by faster than expected in the first quarter as transport and housing prices jumped, according to data released by Statistics New Zealand.</p>.<p>The Bank of Japan is set to predict for the first time that inflation will remain well short of its 2% target beyond Governor Haruhiko Kuroda's term through early 2023, say sources familiar with its thinking.</p>.<p>Market participants now await the European Central Bank meeting on Thursday for further clarity about stimulus plans for the bloc. The US Federal Reserve policy meeting is due next week.</p>.<p>Gold is seen as a hedge against inflation that could follow stimulus measures, but higher Treasury yields have dulled some of the appeal of the non-yielding commodity this year.</p>.<p>A gauge of stock prices across the world fell on Tuesday and oil prices also slipped as concern lingered over rising global Covid-19 cases and their effect on the global economic rebound.</p>.<p>Silver eased 0.2% to $25.83 per ounce. Palladium rose 0.6% to $2,778.17. Platinum fell 0.2% to $1,185.47. </p>
<p>Gold prices edged higher on Wednesday, hovering near a seven-week peak hit earlier this week, as a weaker dollar and a retreat in US Treasury yields lifted demand for the safe-haven metal.</p>.<p>Spot gold was up 0.1% at $1,779.55 per ounce by 01:10 GMT, after hitting its highest since February 25 at $1,789.77 on Monday.</p>.<p>US gold futures edged 0.1% higher to $1,779.60 per ounce.</p>.<p><strong>Read more: <a href="https://www.deccanherald.com/business/business-news/dollar-licks-wounds-after-drop-to-7-week-low-amid-lower-us-yields-976760.html" target="_blank">Dollar licks wounds after drop to 7-week low amid lower US yields</a></strong></p>.<p>The dollar index fell 0.1% against its rivals after touching a near seven-week low in the previous session, making gold less expensive for other currency holders.</p>.<p>Benchmark 10-year US Treasury yields dropped below 1.6%, reducing the opportunity cost of holding non-yielding bullion.</p>.<p>New Zealand's consumer price index (CPI) rose by faster than expected in the first quarter as transport and housing prices jumped, according to data released by Statistics New Zealand.</p>.<p>The Bank of Japan is set to predict for the first time that inflation will remain well short of its 2% target beyond Governor Haruhiko Kuroda's term through early 2023, say sources familiar with its thinking.</p>.<p>Market participants now await the European Central Bank meeting on Thursday for further clarity about stimulus plans for the bloc. The US Federal Reserve policy meeting is due next week.</p>.<p>Gold is seen as a hedge against inflation that could follow stimulus measures, but higher Treasury yields have dulled some of the appeal of the non-yielding commodity this year.</p>.<p>A gauge of stock prices across the world fell on Tuesday and oil prices also slipped as concern lingered over rising global Covid-19 cases and their effect on the global economic rebound.</p>.<p>Silver eased 0.2% to $25.83 per ounce. Palladium rose 0.6% to $2,778.17. Platinum fell 0.2% to $1,185.47. </p>