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Gold Surges on Geopolitical Tensions and Treasury Yields Decline

M. Ali 15 April, 2021 11:05 pm Commodities, Market Update

Gold prices rose on Thursday and saw its best session performance since March, amid a decline in the U.S. Treasury bond yields and fluctuations by the U.S. Dollar (USD).

Moreover, rising tensions between the United States and both Russia and China, improved demand for the yellow metal as a safe haven for investors.

Gold futures for June delivery surged by $30.50, or 1.8%, to close at $1,766.80 per ounce.

The increase was the highest for the precious metal most active contracts since March 9, which helped gold futures close at their highest level since February 25.

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