Bond duration

According to CNBC, gold prices spiked during Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts.

Spot gold was up 1.3% at $1,377.41 per ounce as of 0117 GMT, after hitting its highest since March 17, 2014 at $1,383.81.

U.S. gold futures surged 3% to $1,397.70 an ounce.

By Neal Armstrong & Eshe Nelson

The euro-area’s higher-yielding government bonds declined amid speculation a rally that has driven borrowing costs to record lows is losing momentum.