Gold prices tumbled Tuesday, falling for the first time in four sessions after touching its peak since May 17 at $ 1287.32. As the dollar recovered from several-week lows amid rising Chinese-US trade tensions and the metal's failure to breach a strong technical resistance level.
US Stocks Futures Flat After Holiday
Wall Street shares were trading steady on Tuesday after a break for Memorial Day. Investors remain cautious as the Sino-US trade dispute continues. WASHINGTON (Reuters) - US President Donald Trump said earlier that Washington was not ready to make a deal with Beijing so far, adding that US tariffs on Chinese goods could "rise very dramatically and very easily."
The Dow Jones Industrial Average, the S & P 500 and the Nasdaq 100 fell in pre-market trading at 11:25 am CET.
US Treasury yields fell to a 19-month low
The 10-year US bond yield fell to its lowest level since October 2017 after returning to trading after a public holiday on Memorial Day. The yield on 10-year US Treasury bonds fell by three basis points to 2.3%, the lowest in more than 19 months.
Against a basket of six currencies, the dollar rose 0.2 percent to 97.806 after touching its lowest level since May 16 at 97.546 on Friday. The euro fell 0.07% against the dollar at the same time, buying 1.1188.
Precious metals trading
- The spot price of gold was down 0.1 percent at $ 1283.38 an ounce,
- US gold futures fell 0.1 percent to $ 1282.70 an ounce.
- Silver fell 0.3 percent in spot trade to $ 14.55 an ounce.
- While palladium dropped 0.4 percent to $ 1331.50.
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