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Commodities: Gold down on Tuesday

06/04/2022
Categories: Raw materials

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Gold fell on Tuesday as the dollar held steady on safe-haven flows. Still, analysts believe gold remains supported as an essential portfolio hedge that will shine through the toughest times.

Spot gold was down 0.2% at $1,928.52 an ounce at 0457 GMT. US gold futures were down 0.1% at $1,931.70. The Dollar Index was little changed after three consecutive sessions of gains, as talks of new sanctions against Moscow intensified. A stronger dollar makes gold less attractive to holders of other currencies [USD/]. Spot silver was down 0.2% at $24.45 an ounce, platinum was down 0.5% at $981.88 and palladium was up 0.5% at $2,286.63 .

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