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Spanish borrowing costs fall at debt auction

FXstreet.com (Barcelona) - The Spanish Tesoro Público held a debt auction on Tuesday during which it sold a total of 5.07 billion euro worth of 6- and 12- month Letras, exceeding the maximum target of 4-5 billion euros.

1.19 billion euros of 6-month bonds were auctioned at an average yield of 0.53%, compared with 0.794% seen at the previous auction. 3.88 billion euros worth of 12-month bonds, were sold at an average yield of 1.235% versus the previous 1.363%.

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Forex Flash: Gold lacks key drivers for demand – UBS

Gold prices were already trading in a heavy manner heading into this week as news of Cyprus' gold sales to fund its bailout prompted fears of heavy supply from European national central banks, However, the weak China growth data for Q1 may have proven to be one of the straws that will break the camel's back by introducing a macro driver.
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