Gold Above $1190 on Weaker Dollar

Gold rose up to 1 percent on Tuesday as the dollar and European shares suffered from a sell-off in global bond markets, although higher real yields kept prices under $1,200 an ounce.

Spot gold touched a session high of $1,196.60 an ounce and was last up 0.8 percent at $1,192.90, while U.S. gold futures for June delivery settled $9.40 higher at $1,192.40 an ounce.

The dollar index, which measures the U.S. currency against a basket of major peers, fell 0.5 percent and helped support gold prices. U.S. 10-year yields, which have been driven higher in recent weeks by higher German Bunds, rose to a six-month high above 2.3 percent before losing ground.

CNBC

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