Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Md Sayem
Oct 15, 2023 1:52PM ET
sayem
1
0
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Last Call for Cyber Monday! Save Now on Claim 60% OFF
Gold Prices Mixed On Softer Dollar
Published May 31, 2018 12:09AM ET
Gold prices were mixed on Thursday amid a softer U.S. dollar and rising bond yields.
Investing.com – Gold prices were mixed on Thursday amid a softer U.S. dollar and rising bond yields.
Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were up $1.70, or 0.13%, to $1,303.20 a troy ounce by 11:55PM ET (03:55 GMT).
Gold prices have continued to oscillate around the $1,300 level as rising U.S. bond yields limited any gains from a plunge in the dollar. U.S. 10-year treasury yields rose 0.19% to 2.85% on Thursday.
Gold is sensitive to moves higher in U.S. rates, which lift the opportunity cost of holding gold as it pays no interest.
The U.S. dollar index, which tracks the greenback against a basket of six major currencies, dropped from its fresh high of 94.93 and was on course to trade below the 94 level. The index shed 0.05% to 94.01 at 11:55PM ET (03:55 GMT) and the slide appeared poised to continue.
Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal.
In other precious metal trade, silver futures shed 0.05% to $16.535 a troy ounce, while platinum futures dropped 0.04% to $909.00 an ounce. Copper lost 0.07% to $3.07.
Related Articles
Comments (1)
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.