Gold News – 05.Jun.2024

Gold News

Spot gold increased by 0.1% to $2,330.70 per ounce.

U.S. gold futures rose by 0.1% to $2,350.30 per ounce.

Weaker U.S. dollar and lower Treasury yields contributed to the rise.

The dollar recovered slightly after hitting a two-month low.

10-year Treasury yields remained near their lowest level in almost three weeks.

Analysts are awaiting the U.S. ISM services report, ADP employment report, and non-farm payrolls data.

Higher interest rates negatively impact gold.

Insights into monetary policy are sought from upcoming economic data.

Central banks’ gold purchases increased in April.

Spot silver was steady.

Platinum increased by 0.4%.

Palladium gained 0.9%.

Author : Arman Shaban
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