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Gold prices see subdued rise, buoyed by weaker dollar as stocks rally

June 2, 2020

Gold futures edged higher on Tuesday, getting a lift as the U.S. dollar weakened on the back of unrest in the U.S., but a global rise in assets perceived as risky, like stocks, kept a cap on gains for the precious metal.

“The safe-haven metal is being supported by safe-haven demand as the U.S. dollar sinks amid major civil unrest in America,” said Jim Wyckoff, senior analyst at “However, limiting the upside for the precious metals is stock market traders that appear to be wearing blinders as they push equities prices north—despite keen turmoil in the world.”

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