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Gold slides to 2018 low as dollar strengthens

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold slid to a fresh low for the year 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.Spot gold was down 0.1 percent at $1,289.34 an ounce by 1450 GMT, off an earlier 4-1/2 month low of $1,285.41. U.S. gold futures for June delivery were ...

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First Published: Thu, May 17 2018. 19:29 IST