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Gold futures give up earlier gains to log a third straight session decline


Friday, 28 February 2020 02:00 WIB

GOLDEMAS


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Gold futures gave up earlier gains on Thursday to finish lower for a third straight session.

"Gold prices are always sensitive to the outlook for interest rates, but it's rarely been more strongly correlated against bond yields than it is right now," said Adrian Ash, director of research at BullionVault.

"So while the plunge in the stock market should keep driving gold higher, any pullback in these surging bond prices is also going to hit gold short-term," he said.

Bond prices move in the opposite direction of yields. The 10-year Treasury note yield traded above record lows as gold priced settled.

April gold fell 60 cents, or 0.04%, to settle at $1,642.50 an ounce.

Source : MarketWatch


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