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Gold rises and falls on oil and Treasury movements

Gold rises and falls on oil and Treasury movements

Precious metals hit their strongest levels of the year Thursday, although gold eventually gave back all of its gains due to a turn lower in crude oil and a rise in Treasury yields.
February gold settled a dime lower at $648.10 a troy ounce on the New York Mercantile Exchange. March silver rose 21.7 cents to $13.49.
Fund buying occurred in both metals, reported Michael Gross, broker and futures analyst with Liberty Trading.
February gold peaked at $654.80 in screen trading, its most muscular levels since Dec. 1. March silver peaked at $13.60, its strongest levels since Dec. 15.
From there, however, gold slid back late in the day.
April platinum settled up $14.90 at $1,188 an ounce. March palladium gained $6.30 to $355.45 an ounce. April platinum posted an electronic high of $1,190.10 that was its strongest level since Nov. 30. March palladium got as high as $356.85 in screen trading, its strongest level since Sept. 7.
The most active March copper contract rose 5.30 cents to settle at $2.6545 per pound. Nearby January gained 5.10 cents to $2.6395.
The front-month March light, sweet crude contract settled down $1.14 at $54.23 a barrel.
February heating oil fell 3.48 cents to $1.5491 a gallon. Front-month gasoline fell 1.75 cents to $1.4441 a gallon.
February natural gas settled down 51.6 cents at $6.905 per million British thermal units.
On the New York Board of Trade, March Arabica coffee futures closed up 1.30 cents at $1.1695 a pound, with May up 1.30 cents at $1.2015.
Most-active March cocoa rose $3 to settle at $1,602 per metric ton, while May also added $3 to $1,634.
Futures on raw sugar in foreign ports slid to one-week lows after producer selling capped an early rise and selling from locals and small speculators pushed through Wednesday's low. March settled down 0.07 cent at 10.69 cents a pound, with May off 0.05 cent at 10.88 cents.
On the Chicago Board of Trade, March corn ended 6.25 cents higher at $4.07 cents per bushel, and December finished 1.50 cents higher at $3.9925.
March soybeans finished down 1.75 cents at $7.1325, and May soybeans closed down 2 cents at $7.2850 a bushel.
March wheat fell 14.25 cents to $4.66 a bushel.


Updated : 2021-04-23 01:33 GMT+08:00