Gold Flirts With $1750 as US Bond Yields, Dollar Retreat By Investing.com – Investing.com

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

By Barani Krishnan Investing.com - Gold flirted with a return to $1,750 an ounce on Tuesday as U.S. Treasury yields and the dollar retreated from recent highs. on New York’s Comex settled up $14.20, or 0.8%, at $1,743 an ounce, after a session high at $1,746.55. The last time Comex futures came that close to testing the $1,750 level was on March 22, when it got to $1,747. That made Tuesday’s peak the highest in two weeks. The of gold was up $15.57, or 0.9%, at $1,743.73 late afternoon in New York. Moves in spot gold are integral to fund managers, who sometimes rely more on it than futures for direction. The $1,750 test is critical for gold in its bid to return to the $1,800 berth it left on Feb.

25th. “Gold is starting to look good again as Treasury yields continue to struggle despite growing optimism for the global economic recovery,” said Ed Moya, markets’ analyst at online brokerage OANDA. “The bottom is clearly in place for gold, but a strong V-shaped move higher is unlikely as Treasury yields will grind higher.” Gold had one of its best ...read more...