Gold settles higher 2nd day in row

Gold settles higher 2nd day in row

Mubasher: Gold prices rose on Wednesday for the second consecutive session supported by a drop in Wall Street, despite a surge in treasury bond yields, which are near its highest level since 2011.

Gold futures for December delivery rose by 0.2% to settle at the level of $1,193.40 an ounce.

The Federal Reserve hikes interest rates three times in 2018 and is expected to raise it a fourth time in December, this is driving demand to treasury bonds, which is limiting the gains of the precious metal, while a mixed performance by the US dollar providing support as investors seek safe haven