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.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree