Gold futures settle modestly higher

Gold prices moved higher on Tuesday, rebounding from early losses, after the yield on US Treasury notes fell after an early uptick. Gold futures slid early on in the session as US Treasury yields rose as investors awaited the outcome of auctions set to be held for $34 billion of 52-week bills and $40 billion of 42-day bills. Euro zone bond yields followed suit, but moves were contained after a hefty sell-off on Monday.

The dollar’s rebound from recent losses, limited gold’s uptick. The dollar index rose to 91.25, gaining nearly 0.2 per cent.

Gold futures for June ended higher by $7.80 or about 0.4 per cent at $1,778.40 an ounce, coming off early lows.

Silver futures for May ended up $0.003 at $25.840 an ounce, while Copper futures for May settled at $4.2130 per pound, down $0.0250 from previous close.

Source: GNA