All told, Wednesday marked another strong session for precious metals despite rising Treasury yields and a strengthening dollar.
traded higher, rising 2.9%, or nearly $28, to finish the session at $996 an ounce – just shy of the psychologically significant $1,000-per-ounce threshold. The precious metal has now risen for four consecutive sessions.
meanwhile, was down 0.5%, or $10, to $2,006 per ounce.
Gold futures, meanwhile,
increased 60 cents, or 0.3%, to finish the session at $1,843.30. Silver finished the session with a much stronger gain, rising 1.1%, or 23 cents, to close at $21.88.
U.S. stocks traded lower on the session, as several Fed officials talked down the likelihood of an autumnal “pause” in the central bank’s rate-hiking plans.
All three major U.S. stock indexes were down in the afternoon, while an aggressive selloff across Treasurys
pushed yields on 2- through 7-year maturities up by 11 to 14 basis points each.
Finally, copper futures for June delivery gained 3.50 cents per pound, or 0.81%, to $4.33.