Gold Finishes Higher as Stocks and Bond Yields Decline

Gold prices rose on Tuesday, as demand for safe havens increased due to sharp declines in the stock market.

However, the yellow metal could not recoup all of yesterday’s losses.

Despite the rise by the U.S. Dollar (USD), the greenback remains down on a weekly and monthly basis, which provided some support for gold, especially as the benchmark 10-year U.S. Treasury bond yield fell to about 1.56%.

Gold futures for June delivery gained $7.80, or 0.4%, to finish at $1,778.40 per ounce.

Yesterday, gold’s most active contract fell by 0.5%, following a 2% gain last week.