Gold settled today, Thursday, with support from a slight decline in the yield on US Treasury bonds andFacing pressure from the dollar’s rise.
Spot gold prices settled at $1,844.57 per ounce, while US gold futures fell 0.1% to $1,846.80 per ounce, according to “Archyde.com”.
The yield on US 10-year Treasury bonds fell, which boosted the demand for the precious metal, which does not yield interest.
But the stability of the dollar, after hitting its highest level in more than a week on Wednesday, made gold less attractive to buyers abroad.
Gold is considered a safe haven in times of political and economic uncertainty, but the increase in US interest rates in the short term increases the opportunity cost of acquiring it.
As for other precious metals, silver fell in spot transactions 0.1% to $21.77 per ounce.
Platinum fell 0.7% to $989.50 an ounce, while palladium rose 0.2% to $2001.15 an ounce.