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Gold futures snap four day winning streak on Tuesday

12 May 2021 Evaluate
Retreating from three-month peak rate, gold futures ended lower on Tuesday breaking its four day winning streak as the stronger US Treasury notes ignited fear of yields busting through their former ceiling marked this past month, dulling the lustre of yellow metal investments. Meanwhile, market is also awaiting for the US consumer price index for April due today, for more cues on US Central Bank’s stance on inflation.

Gold futures for June dipped by $1.50 or  0.1% at $1,836.10 an ounce on the Comex division of the New York Mercantile. Spot gold slipped by 0.1% at $1,834.19 per ounce