Gold Prices Edge Up; Dollar Steadies On Higher U.S. Yields

Investing.com – Gold prices were slightly higher on Thursday while the U.S. dollar steadied amidst higher .

for June delivery on the Comex division of the New York Mercantile Exchange was up $1,1, or 0.1%, to $1,354.6 a troy ounce by 12:52AM ET (04:52 GMT).

Meanwhile, The dollar was steady on Thursday against other major currencies. Market continues to eye the U.S.-Japan meeting that discusses the trade relations between the two countries to look for directional drivers for the greenback

The that tracks the greenback against a basket of six major currencies steadied at 89.22.

The dollar got a lift from the higher 10-year U.S. Treasury yields that climbed from 2.82% to 2.87%.

Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal.

Geopolitical developments were also in focus as U.S. President Trump said the plan for the summit between the U.S. and North Korea leader Kim Jong Un might not happen if he did not think it would produce meaningful results.

In other precious metal trade, fell 0.1% to $17.235 a troy ounce, and climbed 0.6% to $950.10 an ounce.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.