Gold down as US treasury yields soar

Mubasher:Gold futures continued its downwards trend on Thursday below the level of $1,300 per ounce.

The falling gold prices are attributed to the surge in the United States treasury yields, which reached 3.12%, nearing its highest level since 2011, which led to stronger US dollar, against major currencies and especially the euro.

The precious metal futures for June delivery reached 1,289 per ounce.

Meanwhile, spot gold is trading near 1,287.7, losing around 0.20%.

This article provided by NewsEdge.