World gold prices on February 7 reversed to increase slightly with spot gold increasing by 10.5 USD to 2,035.4 USD/ounce. Gold futures last traded at 2,052.4 USD/ounce, up 9.5 USD compared to yesterday morning.
World gold reversed slightly when boosted by the weakening of the USD and falling Treasury bond yields. The 0.3% drop in the US Dollar Index increased gold's appeal to buyers holding other currencies. At the same time, the decline in benchmark US 10-year Treasury yields also reduces the opportunity cost of holding gold in interest rates.