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Gold lost .2%, Silver up, Platinum fell

ByVictoria

Gold eased on Monday due to slightly firmer U.S. Treasury yields and profit-taking following last week’s sharp rally driven by weak U.S. jobs data.

Spot gold lost 0.2% to $3,356.91 per ounce, as of 1051 GMT, after rising more than 2% on Friday.

“The market will remain range bound with today’s pullback being in line with some the reversals seen across markets following Friday’s big moves, especially yields which are a tad firmer and stocks which have seen a rebound,” Saxo Bank’s head of commodity strategy, Ole Hansen, said.

Spot silver rose 0.3% to $37.14 per ounce, platinum fell 0.3% to $1,311.38 and palladium was down 0.8% at $1,199.08.

Source – Reuters

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