Gold traded down and then rebounded to close at its second record high on Tuesday.
Comex gold for December delivery fell to $A2,543.30 per ounce in early trading Tuesday, a day after the metal closed at a record high of $A2,555.20 per ounce. But it bounced to end at $A2,559 an ounce after touching a new intraday high of $A2,561.
The US dollar was steady early, with the ICE dollar index easing lower to 100.56. Treasury yields rose, with the U.S. two-year note last seen paying 3.963%, up 1.9 basis points, while the yield on the 10-year note was up 1.3 basis points to 3.83%.
In Singapore, iron ore for September delivery edged up 1.3% to end at $A101.70 a tonne for 62% Fe fines. That’s the highest close since August 6.