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Gold Retreats After Brief Rally as Crude Prices Climb on Middle East Conflict
Precious metal prices retreated Thursday following the previous session’s climb to a two-week peak. New York futures contracts declined approximately 1% to reach $4,110 per troy ounce during early market hours. The downturn followed a robust 3% gain across the prior two trading sessions. Bargain seekers entered positions even as strengthening U.S. Treasury yields applied downward pressure on the commodity. Spot gold decreased 0.1% to settle at $4,127.99 per ounce around 5:31 GMT. Futures contracts dropped 0.5% to $4,130.62. Both silver and platinum registered modest gains during the session. Intensifying tensions ... (full story)
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