Gold rises as dollar, Treasury yields decline
Gold bars
Gold and silver prices settled higher on Thursday as the US dollar and Treasury yields weakened amid growing optimism that the conflict in the Middle East could be brought to an end.
The dollar and Treasury yields came under pressure after reports said Israel and Hezbollah had reached a ceasefire agreement in Lebanon, helping ease geopolitical tensions as negotiations between Washington and Iran continued.
Investors are also awaiting the release of the US employment report on Friday for further clues on labor market conditions and the outlook for monetary policy, particularly after data from Challenger, Gray & Christmas showed layoffs rose 16% in May.
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Gold and silver futures prices |
|||
|
Metal |
Price ($/oz) |
Change ($) |
Change (%) |
|
Gold (August futures) |
4,505.00 |
38.10 |
+0.85% |
|
Silver (June futures) |
73.779 |
0.303 |
+0.41% |
Commodity Price
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