Gold prices slid to their lowest level in 1½ months on May 20, with spot bullion easing to US$4,472.09 per ounce, as a firmer US dollar and elevated Treasury yields outweighed geopolitical uncertainty and limited optimism over a potential US-Iran peace breakthrough.
Reuters reported that the decline marks gold’s weakest level since March 30, with US gold futures for June delivery also falling 0.8% to US$4,475 as safe-haven demand was tempered by stronger real yield dynamics.
A stronger dollar, hovering near a six-week high, made gold more expensive for non-US buyers, while benchmark 10-year US Treasury yields held at more than one-year highs, increasing the opportunity cost of holding non-yielding bullion.
In other precious metals, silver rose 1.1% to US$74.64 per ounce, platinum gained 0.2% to US$1,925.30, and palladium advanced 0.9% to US$1,366.
