Gold Nears 5-Month Lows

Gold prices touched five-month lows on Thursday, as the US dollar and Treasury yields gained momentum after recent upbeat economic data added weight to expectations that the Federal Reserve would carry on with its policy tightening.

Spot gold reached $1,891.70 an ounce, logging its weakest levels since March.

US gold futures shed 0.3% to $1,921.80.

In other metals, spot silver jumped 0.2% to $22.42 an ounce, and platinum reached $882.50, having touched its lowest levels since October. Palladium lost 0.3% to $1,205.70.

Benchmark 10-year US Treasury yields hit a 10-month high, boosting the dollar to its highest level since mid-June and drawing investors away from non-interest-bearing gold.

Source: Qatar News Agency