Gold prices rise – MTV Lebanon


Gold prices rose above $1900 an ounce, supported by a weaker dollar and lower US Treasury yields.

And gold rose in immediate transactions 0.1 percent to $ 1900.10 an ounce. Prices have increased more than 0.5 percent since the beginning of the week. US gold futures rose 0.3 percent to $1,902.7 an ounce.

Data revealed that American consumer prices rose strongly in May 2021, which led to the largest annual increase in nearly 13 years, while weekly jobless claims fell to their lowest levels in nearly 15 months last week.

The benchmark US Treasury yields fell to their lowest level in 3 months, reducing the opportunity cost of acquiring the non-yielding yellow metal.

Meanwhile, the dollar index fell 0.1 percent, after hitting its highest level in nearly a week in the previous session.

As for other precious metals, silver rose 0.4 percent to $28.07 an ounce, while platinum gained 0.1 percent to $1151.98.
And palladium fell 0.1 percent to $ 2772.71, and is on the path of recording a weekly decline.


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