Gold Rises as US Treasury Yields Decline

Gold prices rose today, Thursday, as a decline in US Treasury bond yields compensated for pressure from the rise of the dollar, while investors awaited US non-farm payrolls data for April, which is scheduled for release later this week…

And gold increased in spot transactions 0.2 percent to 1789.22 dollars an ounce. US gold futures advanced 0.2 percent to $ 1788.20.
“The US Federal Reserve continues to pay here, it’s a good thing for gold because it keeps yields low. I think this will ultimately lead to a weakening of the US dollar,” said Stephen Inez, managing partner at SBI Asset Management.

Record 10-year US Treasury bond yields hovered near the low of a week they hit on Tuesday, reducing the opportunity cost of holding gold that does not yield a return.

Meanwhile, the dollar index hovered near its two-week high it reached on Wednesday.
As for other precious metals, palladium rose 0.1 percent to $ 2,975.18 an ounce, after hitting an all-time high of $ 3,017.18 on Tuesday, supported by a supply shortfall.

Silver settled at $ 26.49 an ounce, while platinum fell 0.5 percent to $ 1218.81