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Gold Prices Rise As US Treasury Yields Retreat
(MENAFN- The Peninsula)
QNA
London: Gold rose 1 percent today, supported by hopes for a resolution to the Iranian crisis, which pressured oil markets and eased some inflation concerns, helping push US Treasury yields lower from their recent highs.
Spot gold gained 1 percent to $4,699.87 an ounce after prices earlier in the session hit their lowest level in more than seven weeks.
US gold futures for June delivery also rose 0.4 percent to $4,529.30.
Among other precious metals, spot silver climbed 3.5 percent to $76.42 an ounce, platinum rose 1 percent to $1,942.30, and palladium advanced 0.9 percent to $1,365.12.
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