Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Gold Prices Little Changed As Dollar Slips

Published 14/05/2018, 03:22 pm
Updated 14/05/2018, 03:30 pm
© Reuters.  Gold prices were little changed on Monday

© Reuters. Gold prices were little changed on Monday

Investing.com – Gold prices were little changed on Monday as the dollar opened the week slipping against the other major currencies amid sagging U.S. 10-year Treasury yields.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down 0.3, or 0.02%, to $1,320.2 a troy ounce by 1:02AM ET (05:02 GMT).

Meanwhile, the U.S. Dollar Index that tracks the greenback against a basket of six major currencies last stood at 92.28, down 0.17%. The greenback reached this year’s new high last Wednesday at 93.22, then lost its rally to drop to the 92 level on Monday. Its uptrend since mid-April is still intact, however.

Last Friday, the U.S. released softer than expected consumer inflation data that curbed expectations for four rate hikes by the Federal Reserve this year. The news pressured United States 10-Year treasuries, with the yields dropping to 2.96%, while the dollar also lost support.

Markets also set eyes on the U.S. retail sales data on Tuesday and Japan’s GDP on Wednesday to look for more directional drivers.

In other precious metal trade, silver futures slipped 0.1% to $16.735 a troy ounce, and platinum futures climbed 0.2% to $926.0 an ounce.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.