June 11 (Reuters) – Gold prices hovered around the pivot $ 1,900 an ounce on Friday, boosted by declining dollar and U.S. bond yields as investors ignored data suggesting rising U.S. inflation and hoped the Federal the backup system will not change its rules. pigeon position.
* Spot gold is up 0.1% to $ 1,899.28 an ounce as of 00:59 GMT. Prices are up 0.5% this week.
* US gold futures are up 0.3% to $ 1,901.20 an ounce.
* The dollar index fell to 90.057 after hitting a nearly one-week high in the previous session.
* The estimated yield on 10-year US Treasuries fell to a three-month low, reducing the opportunity cost of owning interest-free bullion.
* Data showed that US consumer prices rose steadily in May, resulting in the largest annual growth in nearly 13 years, while the number of weekly jobless claims fell to their lowest level in nearly 15 months last week.
* The European Central Bank raised its forecasts for growth and inflation on Thursday but promised to provide a steady stream of stimulus over the summer, fearing that a pullback now will accelerate worried borrowing costs and dampen the recovery.
• Investors are not worried about the spike in inflation in the US over the past two months, demonstrating confidence that the Fed is cleverly handling the recovery in economic growth.
* The US central bank is likely to announce a strategy to cut its massive bond buying program in August or September, but will not begin to cut monthly purchases until early next year, a Reuters poll showed.
* Silver remained steady at $ 27.96 an ounce, palladium fell 0.5% to $ 2,763.87 and platinum fell 0.1% to $ 1,150.31.
DATA / EVENTS (GMT) 06:00 UK GDP est. 3 months / 3 months April 0600, GDP of Great Britain, mln., Gg. April 06:00 UK production, million April 1400 USA, Michigan, Preliminary analysis, June (Bridgesh Patel Report in Bangalore; edited by Ramakrishnan M.)