Gold rises as U.S. Treasury yields fall


By Xu JingUnreguser
  • World
  • Thursday, 01 Jun 2023

CHICAGO, May 31 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as U.S. Treasury bond yields fell.

The most active gold contract for August delivery rose 5 U.S. dollars, or 0.25 percent, to close at 1,982.10 dollars per ounce.

Gold posted a monthly decline of 1.8 percent in May.

Economic data released on Wednesday are mixed. MNI Indicators reported that Chicago Business Barometer, also known as Chicago PMI, fell 8.2 index points to 40.4 in May, staying below the 50 threshold that indicates contraction territory for the ninth straight month. Economists forecast a 47.3 reading.

The U.S. Labor Department reported that U.S. employers posted 10.1 million job openings in April, up from 9.7 million in March and the most since January.

Silver for July delivery rose 34.80 cents, or 1.50 percent, to close at 23.587 dollars per ounce. Platinum for July delivery fell 22.90 dollars, or 2.24 percent, to close at 999 dollars per ounce.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Dead bodies in Mexico most probably are missing U.S., Australian surfers
Roundup: Tanzania battles devastating floods triggered by torrential rains
Think tank report highlights China's approach to modernization
Tropical storm Hidaya weakens as it makes landfall in Tanzania
Feature: Chinese cars gain popularity in Botswana
Torrential rains lash multiple cities in China's Guangdong
First batch of export vehicles under China-Ecuador FTA to set sail
China-France forum underscores people-to-people, cultural exchanges
China's migrant workers earn higher incomes in 2023
Feature: French contributor to China's modern shipbuilding industry

Others Also Read