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Gold Scores First Gain in 4 Sessions
Thursday, 17 May 2018 02:29 WIB | PRECIOUS METALS |GOLDEMAS

Gold futures finished slightly higher Wednesday, a day after the metal got pummeled below $1,300 an ounce to post its lowest settlement of the year on the back of a jolt higher by U.S. government bond yields and a resurgent dollar.

The recent jump in Treasury yields and strength in the greenback had served to undercut appetite for precious metals in recent sessions.

June gold edged up by $1.20, or just under 0.1%, to settle at $1,291.50 an ounce. On Tuesday, gold dropped by more than 2% to $1,290.30, the lowest settlement for a most-active contract since late December, according to FactSet data. Tuesday™s brisk retreat for the yellow metal also pushed it below its 200-day moving average, which stood at $1,307.80, for the first time since late December.

Source : Marketwatch

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