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.

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