Gold futures are looking to rebound from their worst levels in 2018 as they continue to stall just under the crucial $1,300 mark. The yellow metal might benefit from a lower US dollar, but Treasury yields are holding steady at
June gold futures rose $1.10, or 0.09%, to $1,292.00 per ounce at 16:03 GMT on Tuesday. On Monday, gold prices settled at their lowest intraday levels since December and recorded their second consecutive weekly drop of 2% last week.
The white metal is rallying as July silver futures jumped $0.085, or 0.51%, to $16.60 an ounce. The sister commodity to gold also endured a weekly decline of 1.5% last week.
The US dollar is trading 0.21% lower to 93.52 after the greenback touched a
Gold’s gains are likely being capped by further rallies in Treasury notes. The 10-year Treasury note yield is still flirting with its highest level in seven years at 3.074%, while the 30-year Treasury note yield has topped its
The lack of news coming out of
Other metal commodities are seeing an ocean of green. July copper futures advanced $0.036, or 1.16%, to $3.134 per pound. July platinum futures surged $9.80, or 1.09%, to $909.00 an ounce. July palladium futures increased $1.10, or 0.11%, to $991.50 per ounce.
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