April 13 (Reuters) - Gold slipped on Tuesday as firmer U.S.
Treasury yields took some sheen off the yellow metal, with
optimism about a quick economic rebound weighing on prices
further.
FUNDAMENTALS
* Spot gold XAU= fell 0.3% to $1,728.15 per ounce at 0122
GMT. U.S. gold futures GCv1 were down 0.2% at $1,729.10 per
ounce.
* Treasury yields in the United States have stayed
marginally higher after a successful three-year note auction and
ahead of important data releases this week, including consumer
price inflation on Tuesday. US/
* Treasury sales of $271 billion in new debt and a key
inflation report this week could put an end to the bond market's
recent lull, reinvigorating a surge in yields. * Higher bond yields increase the opportunity cost of
holding bullion, which pays no return.
* A survey published on Monday by the Federal Reserve Bank
of New York showed U.S. consumers raised their inflation rates
again in March following gradual increases in recent months, and
they became more positive about the job market. * The United States' economy may see a substantial
turnaround this year as a result of accommodative monetary and
fiscal policy, but the job market still has a lot of space for
growth, Boston Federal Reserve Bank President Eric Rosengren
said. * Asian stocks traded cautiously, taking a lead from the
U.S. markets, as investors waited for cues from the upcoming
corporate earnings season and a key inflation report later this
week. MKTS/GLOB .N
* Silver XAG= fell 0.6% to $24.69 and palladium XPD=
inched down 0.1% to $2,672.30. Platinum XPT= slipped 0.6% to
$1,163.57.
DATA/EVENTS (GMT)
0600 UK GDP Est 3M/3/M Feb
0600 UK GDP Estimate MM, YY Feb
0830 UK Manufacturing Output MM Feb
0900 Germany ZEW Economic Sentiment April
0900 Germany ZEW Current Conditions April
1230 US CPI MM, SA March
N/A China Exports, Imports YY March
N/A China Trade Balance March