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15-May2018

Gold futures decline on strong dollar

Gold futures ended lower on Monday, as the firm dollar index and rising Treasury yields dimmed the investment appeal of the non-yielding bullion. Meanwhile, investors awaited key US data and expect the US retail sales to grow which gives the Federal Reserve more reason to raise interest rates. Higher US rates make gold a less attractive investment, because bullion does not offer interest.

Gold futures for June delivery settled down $2.50, or 0.2 percent, at $1,318.20 per ounce, on the Comex division of the New York Mercantile. While, spot gold was down by 0.3 percent at $1,314.17 per ounce. 



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