Gold trade steadied Wednesday morning, with prices poking into positive territory, after a hunt for assets viewed as risky took the haven metal to its lowest finish of the year a day ago.
Gold for June delivery on Comex was up $1.10, or less than 0.1%, at $1,278.30 an ounce. June gold settled at $1,277.20 Tuesday. That was the lowest finish for a most-active contract since Dec. 26, according to FactSet data.
Gold had moved lower this week as equity benchmarks in the U.S. flirted with records and the 10-year Treasury note yield pushed higher. Rising yields can undercut demand for bullion because the commodity doesn’t carry a coupon.
In other trading, May silver was up 4 cents, or 0.3%, at $14.96 an ounce and May copper rose 1.2% to $2.966 a pound. June palladium rose 0.7% to $1,338 an ounce, while July platinum rose 0.9% to $892 an ounce.
Source : MarketWatch