Gold edged higher on May 18 as bond yields eased, the U.S. dollar and crude prices softened, and investors continued to watch Middle East tensions tied to Iran.
Gold prices rose on Monday as a softer bond-yield backdrop and lingering geopolitical tensions supported bullion.
Reuters reported that gold edged higher as global bond yields eased or stopped rising as quickly, while the U.S. dollar weakened and crude oil prices fell. Those moves helped ease some pressure on non-yielding bullion.
Investors also continued to watch developments in the Middle East, with Iran-related tensions still shaping market sentiment. A separate Reuters market report on May 18 said fresh Middle East tensions had already pushed oil prices and bond yields higher, underscoring the uneven backdrop for precious metals.
The latest move leaves gold trading between support from risk aversion and resistance from firmer yields. Official U.S. Treasury yield data also showed the market remained focused on the direction of rates during the period.
The key question for traders is whether gold can extend gains if bond yields rise again or whether geopolitical concerns keep demand firm.
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