Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Aug. 18, 2020, 1:40 p.m. EDT

Gold notches back-to-back gains to settle above $2,000 for the first time in about week

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Gold Dec 2020 (GCZ20)
  • X
    Gold Continuous Contract (GC00)

or Cancel Already have a watchlist? Log In

By Mark DeCambre

Gold prices extend rally Tuesday, with the precious metal regaining traction to settle above the psychologically significant level at $2,000 for the first time in about a week amid persistent weakness in the U.S. dollar and slack in government bond yields. December gold /zigman2/quotes/210039572/delayed GCZ20 -0.13% /zigman2/quotes/210034565/delayed GC00 -0.13% settled up $14.40, or 0.7%, at $2,013.10 an ounce. The 10-year Treasury note yield was trading around 0.66%, around its weakest level since last week, while the dollar was at its lowest since 2018, trading 0.6% lower at 92.29, as gauged by a gauge of the buck, the ICE Dollar Index /zigman2/quotes/210598269/delayed DXY +0.02% , against a half-dozen rival currencies. A weaker dollar can boost the appeal of gold because it is priced in the currency while receding yields can lower the opportunity cost of favoring bullion, which doesn't offer a yield, over Treasurys.

Read the full story:
Gold ends higher for a second session and retakes perch atop $2,000

/zigman2/quotes/210039572/delayed
US : U.S.: Nymex
$ 1,903.30
-2.40 -0.13%
Volume: 41,377
Oct. 27, 2020 4:38a
loading...
/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,903.30
-2.40 -0.13%
Volume: 41,377
Oct. 27, 2020 4:38a
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
93.07
+0.02 +0.02%
Volume: 0.00
Oct. 27, 2020 4:38a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Investing

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.