Gold Tallies Back-To-Back Gains as Treasury Yields Retreat

Friday, 15 November 2019 02:06 WIB



Gold futures settled higher on Thursday, building on gains from a day earlier as weakness in U.S. benchmark stock indexes and a drop in yields on government debt raised the precious metal’s investment appeal.

Gold concluded Thursday "on a positive note amid market caution and general risk aversion," said Lukman Otunuga, senior research analyst at FXTM. “Tensions in Hong Kong, fading optimism over a US-China trade deal, and disappointing economic data from the second-largest economy in the world have dampened the market mood.”

Gold for December delivery on Comex rose $10.10, or 0.7%, to settle at $1,473.40 an ounce, a day after snapping a four-day losing streak. December silver finished at $17.028 an ounce, up 11.5 cents, or 0.7%.

As gold futures settled Thursday, the yield on the 10-year U.S. Treasury note fell 6.1 basis points to 1.8092%. Yields fall as Treasury prices rise.

Source : Marketwatch


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