Gold futures closed lower on Monday (June 6) as a strong dollar and rising U.S. treasury bond yields pressured the market. Investors are looking ahead to the release of U.S. inflation figures on Friday.
- The gold contract was down $6.5, or 0.35%, to close at $1,843.7 per ounce.
- Silver futures were up 18.4 cents, or 0.84%, at $22.092 an ounce.
- The platinum contract was up $13.6, or 1.34%, at $1,030.00 per ounce.
- Palladium was down $6.5, or 7.16%, at $1,843.7 an ounce.
Gold contracts were under pressure from the appreciation of the dollar. The dollar index rose 0.29% against the six major currencies in a basket of currencies to 102.4370. A strong dollar makes gold contracts more expensive for investors holding other currencies.
Gold trading was also influenced by the rise in the yield on 10-year U.S. Treasury bonds to 3.032%. Gold is an asset that does not yield interest gains.
Investors are focused on Friday’s release of the U.S. consumer price index (CPI) for May. Analysts forecast an 8.2% increase in the CPI, a slowdown from 8.3% in April.
The Spot Market is Open
Tuesday, June 7, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 13.40 | 1,841.10 1,842.10 | -0.30 -0.02% | 1,836.70 1,845.80 |
| Silver 13.40 | 21.90 22.00 | -0.13 -0.59% | 21.82 22.16 |
| Platinum 13.40 | 1,003.00 1,013.00 | -12.00 -1.18% | 999.00 1,028.00 |
| Palladium 13.30 | 1,953.00 2,103.00 | +2.00 +0.10% | 1,938.00 2,111.00 |
| Rhodium 05.00 | 13,500.00 15,500.00 | 0.00 0.00% | 13,500.00 15,500.00 |