Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold dipped 0.2% to close under $1,711 as rising risk appetite and a stronger dollar undercut demand for alternative stores of value, breaking the metal's two-day winning streak.

Wall Street rose as the US and several hard-hit countries eased some social and commercial restrictions in the attempt to reopen their economies. The Dow and S&P 500 gained 0.6% and 0.9%. led by rallying healthcare stocks, while the tech-heavy Nasdaq climbed 1.1% behind earnings by Microsoft and Apple.

California announced it will allow some retailers to reopen this week for curbside pickup, further easing restrictions on the nation's most populous state. Construction companies, gold courses, landscapers, and other businesses have already.

The Eurozone is planning a gradual thaw. Italy, the hardest-hit nation in Europe by the coronavirus, will now let restaurants offer takeout service while France will begin to reopen schools next week and Spain is allowing outdoor exercise for the first time in seven weeks.

The dollar rose along with stocks on hopes for an economic rebound, picking up 0.4% against major rivals. A stronger dollar weighs on gold and other commodities by making them more expensive overseas. Treasury yields also ticked higher on the rise in risk appetite.

The other precious metals were mixed, with silver and platinum adding 2.1% and 0.8%, respectively, while palladium fell 4.3%.

At the Comex close: June gold dipped $2.70 to $1,710.60; July silver rose 31 cents to $15.11; July platinum picked up $6.20 to $784.70; and June palladium fell $78.80 to $1,756.50 an ounce.