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Gold prices edge higher as bond yields slide


Tuesday, 20 August 2019 20:01 WIB

GOLDEMASSILVER


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Gold futures edged slightly higher Tuesday, gaining some ground a day after a rally in stocks helped to prompt some selling in bullion.

Gold for December delivery rose $1.80, or 0.1%, to $1,513.40 an ounce, after the commodity gave up 0.8%, while September silver picked up 4 cents, or 0.2%, to $16.970 after the white metal shed 1.1% on Monday.

Precious metals were gaining some altitude as bond yields edged lower, providing some impetus for metals buying. The 10-year Treasury note yield was down 3 about basis points to 1.567%. U.S. stocks were poised for slight opening gains, meanwhile.

Lower debt yields can make gold and other precious assets comparatively more attractive because metals don't carry a coupon.

Gold has maintained its purchase above a psychologically important level at $1,500 an ounce, which many technical analysts view as a bullish signal.

Source : MarketWatch


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