Metal prices lower on dollar strength, gold off lows but under pressure
FOREX Closes: Gold $1256.00 (– $2.78) / Silver $16.07 (-7¢)
Gold prices were pushed lower Tuesday by higher U.S. government bond yields and a rising dollar, which also dented sentiment on other metals. . .Investor appetite for safe heavens such as gold, yen and Treasuries, were scaled back by sentiment for riskier assets, triggering an uptick in U.S. bond yields and forcing gold prices lower.”
USAGOLD note: Gold showed some resilience overnight reversing sharply off a $1248 low in Europe to finish the day in the U.S. at $1256.00.