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Gold Futures Close Higher as USD and Treasury Yields Decline

M. Ali 3 May, 2021 10:09 pm Commodities, Market Update

Gold prices rose on Monday after four consecutive declines, on the back of the U.S. Dollar’s (USD) decline and an improved demand for safe haven assets, as Treasury bond yields retreated.

Gold futures for June delivery gained $24.10, or 1.4%, to close at $1,791.80 per ounce.

This marked the highest closing level for the yellow metal most active contracts since April 21.

Likewise, silver futures for July delivery surged by $1.09, or 4.2%, to finish at $26.96 per ounce, achieving its biggest gains in one session since February.

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