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02.03.202119:00:00UTC+00Gold Futures Snap 5-day Losing Streak, Settle Moderately Higher

Gold futures settled higher on Tuesday, snapping a five-day losing streak, as the dollar lost ground after initial uptick.

The dollar index, which rose to 91.39 in the Asian session, slid to 90.75 later in the day, losing more than 0.3%.

Gold futures for April ended up $10.60 or about 0.6% at $1,733.60 an ounce.

Silver futures for May ended higher by $0.201 or 0.8% at $26.879 an ounce, while Copper futures for May settled at $4.2220 per pound, gaining $0.1090 or about 2.7%.

The yield on 10-year U.S. Treasury Note stayed below 1.5% for a second straight day. The bond yield had surged to 1.6% last week.

Traders await a series of Fed speeches this week, culminating with Powell on Thursday and the February U.S. employment report due on Friday, which will provide an update on the speed and direction of the nation's labor market recovery.

The market is also awaiting further progress on the $1.9 trillion coronavirus relief bill. The bill will be debated in the U.S. Senate this week.



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