Gold rises as dollar and US bond yields decline

Gold prices rose today, Tuesday, as dollar and US Treasury yields fell, which provided some support for the precious metal, despite the direction of central banks to ease economic stimulus measures.

And gold rose in the spot trade by 0.7% to $ 1776.03 an ounce, and US gold futures rose 0.7% to $ 1778.20 an ounce.

The dollar index hit a two-week low, making gold less expensive for buyers of other currencies.

Yields on benchmark 10-year US Treasuries fell, lowering the opportunity cost of buying unprofitable gold.

“Although gold is limited within a limited range, when it exceeds $ 1760 it can rise to $ 1782 and possibly $ 1800,” said Nicholas Frabel, ABC Pauline’s global general manager, adding that going below $ 1759 might push it. between $ 1,737 and $ 1,741.

As for other precious metals, spot silver rose 1.6% to $ 23.53 an ounce.

Platinum is up 1.5% to $ 1050.84 and Palladium is up 1.8% to $ 2051.22.

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