Gold Hits 5-Week High Amid Trade Tensions and Falling US Yields

Gold prices jumped Tuesday to their highest level in five weeks due to trade uncertainty and a decline in US Treasury yields, while investors await US President Donald Trump's August 1 deadline for imposing tariffs.

Spot gold rose 0.6 percent to $3,415.61 per ounce, reaching its highest level since June 16.

US gold futures also rose 0.6 percent to $3,428.10.

US 10-year Treasury yields hit their lowest level in more than two weeks, making gold more attractive.

Among other precious metals, spot silver fell 0.1 percent to $38.89 per ounce.

Platinum rose 0.2 percent to $1,440.75, while palladium fell 0.1 percent to $1,262.75.

(QNA)