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Gold Futures Rise As Treasury Yields Edge Lower
 

Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly on Friday, as the U.S Treasury yields edged lower.

The most active gold contract for June delivery went up 1.9 dollars, or 0.15 percent, to close at 1,291.3 U.S. dollars per ounce.

Lower bonds yields boosted demand for nonyielding bullion as the benchmark 10-year Treasury note stepped down from its highest levels since 2011. The 10-year Treasury note yield was down 5 basis points at 3.06 percent.

However, the greenback exerted pressure on the precious metal. The U.S. dollar index, which measures the buck against six rivals, went up 0.18 percent to 93.638 as of 2000 GMT.

Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall.

As for other precious metals, silver for July delivery fell 2.6 cents, or 0.16 percent, to settle at 16.455 dollars per ounce. Platinum for July dropped 5.6 dollars, or 0.63 percent, to close at 886.5 dollars per ounce.


(www.chinaview.cn 2018-05-21)
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