Print Edition - 2018-05-17  |  Money Digest

Gold prices edge up on short-covering

BENGALURU

May 17, 2018-Gold prices recovered slightly on Wednesday on short-covering after sliding to the lowest level this year in the previous session on surging US bond yields and a stronger dollar. Spot gold rose 0.3 percent to $1,293.89 per ounce at 0330 GMT, after shedding 1.7 percent and marking the lowest this year at $1,288.31 in the previous session. This was also the lowest price level for the yellow metal since December 28. US gold futures for June delivery were up 0.2 percent at $1,293.30 per ounce. “Rising US bond yields and a stronger dollar were factors behind gold’s decline below the $1,300 level.  (REUTERS)

Published: 17-05-2018 08:04

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