YRI:CC - Gold prices gain as U.S. dollar weakens to one-month low

Precious metals miners provided a refuge from broader stock market losses on Tuesday, as continued high inflation points to further problems in the U.S. economy. A pair of new surveys - the S&P flash U.S. services index and flash U.S. manufacturing index - showed businesses expanding in May at the slowest pace in months, and new home sales in April fell for the fourth straight month, plunging to the lowest levels since the pandemic. Comex gold for June delivery (XAUUSD:CUR) ended +1% at $1,865.40/oz, while July silver (XAGUSD:CUR) closed +1.6% at $22.06/oz, with both metals reaching their best settlement values since May 6. ETFs: (NYSEARCA:GDX), (NYSEARCA:GLD), (NYSEARCA:IAU), (NUGT), (PHYS), (SIL), (SIVR), (SLV) Some of the major mining shares showed strong gains: (NEM) +2.3%, (GOLD) +2.8%, (AEM) +2.4%, (KGC) +2.4%, (AUY) +3.4%, (IAG) +3.1%. "Gold should remain supported as inflationary pressures weigh further, China's COVID situation remains a big unknown, and corporate America

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Gold prices gain as U.S. dollar weakens to one-month low