Gold sees modest recovery on weaker dollar

12/1, 8:43 AM (Source: TeleTrader.com)

Gold traded slightly higher on Thursday morning along with other major precious metals, recovering somewhat from yesterday's losses on surging oil prices. The demand for bullion benefited from weakening United States dollar during the early trade as the risk-on sentiment softened a bit.

The yellow metal advanced 0.15% to $1,174.82 per troy ounce at 8:36 a.m. CET, while silver added 0.17% to sell for $16.54 per ounce. Platinum gained 0.38%, going for $913.5 per ounce and palladium rose 0.71% to $776 per ounce at the same time. Meanwhile, the U.S. dollar index declined 0.32% to 101.25 at 8:38 a.m. CET.

Bond prices, however, are still falling across the board, as yields, which move in the opposite direction, continued on the upward trend. The yield on 10-year Treasuries edged up to 2.3846% at 8:40 a.m. CET, while the yield on two-year bonds increased to 1.1191%. The yield on 30-year debt inched up to 3.0427% at the same time.

Teletrader Newsroom / IB