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Gold tapers after hitting a four-month height

Category: Economy

Date: 2021-05-19T09:43:49+0000
Gold tapers after hitting a four-month height
Shafaq News/ Gold hit nearly a four-month peak on Tuesday before easing slightly as yields on U.S. Treasuries inched higher, with a weaker dollar and inflation fears maintaining a floor under bullion prices.

Spot gold was up 0.3% to $1,873.01 per ounce by 0657 GMT after hitting its highest level since Jan. 29 earlier in the session at $1874.8. 

U.S. gold futures settled at $1,872, largely unchanged from Monday.

The dollar index fell to near a three-month low, making gold cheaper for holders of other currencies.

Elsewhere, silver rose 0.3% to $28.26 per ounce after hitting its highest level since Feb. 2 in the session.

Palladium rose 0.1% to $2,904.87 per ounce, while platinum dipped 1.6% to $1,219.98.

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