Institutions: Lower yields support gold price rebound; market awaits non-farm payroll report.

According to ME News, on Wednesday, February 11 (UTC+8), gold and silver prices both rose. Spot gold rose more than 1% to above $5070 per ounce, while spot silver rebounded more than 5% after falling more than 3% overnight, reaching $85 per ounce. Earlier data showed that US retail sales growth stalled in December, causing the dollar and US Treasury yields to fall, providing support for gold and silver prices. Kyle Rhoda, senior market analyst at Capital.com, said, "Lower yields are clearly supporting gold today… Following the weak retail sales data, the market expects the Fed to cut rates sooner and more deeply than previously thought." Tim Waterer, chief analyst at KCM Trade, noted in a report, "For both gold and the dollar, more directional movements are likely to wait until after the non-farm payroll report, as US employment data will influence the Fed's interest rate path. Weak January employment data would help the gold rebound." (Source: ME)