Metals Stocks: Gold notches back-to-back gains to hit another 6-year peak

Gold futures fell on Thursday after the precious commodity notched a fresh six-year high Wednesday, prompted by a cocktail of lower debt yields, a pause in dollar strength and bullish comments from a prominent hedge-fund investor.

Gold “worked off its ‘overbought’ conditions through time,” said Fawad Razaqzada, technical analyst at Forex.com. “The underlying trend is bullish for both [silver and gold], due to the falling government bond yields and the recent struggles for the dollar and stocks.”

Read:Silver rallies to its highest in over a year, plays ‘catch up’ to gold’s gains

“As things stand, these are good times for buck-denominated and noninterest-bearing precious metals,” he said in a market update.

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