Economic news

Gold recovers from one-month low as 10-year Treasury pull back

Gold futures jumped on Tuesday, having touched their trough in a month on Monday. The metal surged as a rise in U.S. bond yields towards 3 percent lost momentum and as a dollar index slipped.

June gold futures climbed 0.4%, to $1,329.20 an ounce. May silver fell 0.5%, to $16.675 an ounce.

The ICE U.S. Dollar Index inched down less than 0.1% to 90.86.

Investors digested a recent increase in benchmark U.S. bond yields, as the 10-year yield was on track to breach the crucial 3% mark. However, the 10-year Treasury note yield pulled back 0.5 basis point to 2.968%.

Aluminum touched its lowest level in almost two weeks, extending losses from the previous session after Washington gave American customers of Russian producer Rusal more time to comply with sanctions.


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