In trading this morning, Friday (18/05/2018), gold futures price on the Comex division of the New York Mercantile Exchange opened higher US $ 0.6 or 0.05% to US $ 1,290.0 per ounce.
At pk. 06.13 WIB, Comex gold fell back below 1.290, which became US $ 1,289.9 per ounce.
In trading Thursday, June Comex gold futures fell to the lowest level this year in late trading Thursday or Friday morning, depressed US dollar gains and US government bond yields.
The most active gold contract for June delivery, down US $ 2.1 or 0.16%, to close at US $ 1,289.4 per ounce.
The US dollar index, which measures the greenback against six major currency rivals, rose 0.17% to 93.51.
Gold and the dollar usually move in the opposite direction, which means if the US dollar rises then gold futures will decline, as gold priced in US dollars becomes more expensive for holders of other currencies.
The higher yields also hampered demand for non-yielding precious metals when the 10-year US Treasury bond yield became the benchmark to reach its highest level since 2011. The yield on 10-year US Treasury bonds rose 10 basis points to 3, 11%, as quoted by Antara, Friday (18/05/2018)
As for other precious metals, silver for July delivery rose 0.67%, to settle at US $ 16,481 per ounce. Platinum for July contract rose $ 2.3, or 0.26%, to close at $ 892.1 an ounce.
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Gold Movement Comex Contract June
May 17 US $ 1,289.4 / Ounce
May 16, US $ 1,291.5 / ounce
May 15 US $ 1,290.3 / ounce