Media ININ Economy We Trust
Media In / Agencies -5-12-2018
Gold prices fell, dropping from their peak in more than five weeks recorded during the previous session as the dollar rose.
The spot price of gold fell 0.2 percent to $ 1235.31 an ounce, after hitting its highest since October 26 at $ 1241.86 an ounce in the previous session, while US gold futures fell 0.5 percent to $ 1240.7 an ounce.
The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose about 0.2 percent, but the currency remains under pressure amid concerns about economic growth due to a drop in Treasury yields.
The benchmark 10-year Treasury yield fell to its lowest level since mid-September, while the difference between the 10-year yield and the two-year yield shrank to its lowest level since the start of the financial crisis in January 2008, signaling some investors to a near-slowing US economy.
Meanwhile, palladium fell 0.3 percent in spot trade to $ 1229.92 an ounce, close to the price of a yellow metal after hitting a record high on Tuesday.
Silver fell 0.4 percent to $ 14.46 an ounce and platinum fell 1 percent to $ 795.40 an ounce after hitting its lowest level since Sept. 17 at $ 787.5 earlier in the session.
