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Gold flat after hitting 2018 low as dollar, Treasuries firm

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Jan HarveyNEW YORK/LONDON (Reuters) - Gold was flat after sliding to a fresh 2018 low on Thursday as another rise in U.S. bond yields and concerns over political risk in Italy held the dollar index near its 2018 peak.The precious metal has fallen more than 2 percent this week on gains in the U.S. currency and a rise in U.S. 10-year Treasury yields to seven-year highs. Higher yields increase the opportunity cost of holding non-yielding assets such as bullion. But gold got some support from geopolitical strife in North Korea.Spot gold was flat at $1,290.51 per ounce by ...

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First Published: Thu, May 17 2018. 23:19 IST