Gold futures settle higher, buoyed by weakness in Treasury yields

Gold futures settled higher on Tuesday, buoyed by weakness in Treasury yields. Gold prices have climbed since marking a double-bottom on March 30th, said Adam Koos, president of Libertas Wealth Management Group, referring to a chart pattern that signals a potential bullish reversal in prices. He attributed gold’s rise since late March to a decline in the U.S. dollar over the same period, as well as a retreat in interest rates that had become “extremely overbought” and a “long-in-the-tooth” U.S. stock market, which is “ripe for a pullback.” June gold rose $7.80, or 0.4%, to settle at $1,778.40 an ounce. Prices, however, failed to recoup all of the 0.5% loss from the previous session.

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