Gold extends gains but still trades below $2,000
3 months ago

Gold prices rose on Tuesday even as the dollar muscled up against major rivals, but the precious metal was still boosted by changing yields on US treasury yields. 


US two-year treasury yields rose by 7.5 points to 4.533%, while 10-year treasury yields rose 2.6 basis points to 3.714%, as 30-year treasury yields stabilized at 3.895%. 


There's no impactful US data released today, while Fed officials embark on their silent period ahead of the policy meeting. 


However markets are putting a 75.9% chance of no change in US monetary policies at the Fed's June meeting. 



‏However investors are looking forward for official clues on the path ahead for policies and interest rate moves in July.


Allianz chieft economist Muhammad Al-Aryan said that while concerns about a US debt default have subsided, markets now are looking forward to the Fed's efforts to contain inflation.


Despite risks surrounding high interest rates in the last 15 months, the tech sector was particularly brilliant amid the AI industry boom.


Otherwise, the dollar index rose 0.2% as of 19:03 GMT to 104.2, with a session-high at 104.3, and a low at 103.8.

On trading, gold spot prices rose 0.3%, or $6.30 as of 19:04 GMT to $1,980.5 an ounce. 

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