13 June 2022

Gold Slips as US Bond Yields Climb

International and Arabic
  • gold

Washington, June 13 (QNA) - Gold prices eased on Monday from a one-month high scaled earlier in the session, as red-hot US inflation data lifted Treasury yields and tempered the appeal of safe-haven bullion.
Spot gold was down 0.5% at $1,862.29 per ounce. US gold futures also eased 0.5% to $1,866.80.
Gold, which is seen as a safe-haven asset in times of economic crises, hit its highest since May 9 earlier in the session at $1,877.05 per ounce.
However, benchmark US 10-year Treasury yields also rose to their highest since May 9, weighing on demand for zero-yield gold.
Spot silver dipped 1.1% to $21.63 per ounce, platinum fell 1.5% to $958.51, and palladium dropped 2.1% to $1,894.72. (QNA)


Economy, International
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