Gold futures finished slightly higher Wednesday; a day after the metal got pummeled below $1,300 an ounce to post its lowest settlement of the year on the back of a jolt higher by U.S. government bond yields and a resurgent dollar. The recent jump in Treasury yields and strength in the greenback had served to undercut appetite for precious metals in recent sessions. June gold edged up by $1.20, or just under 0.1%, to settle at $1,291.50 an ounce. On Tuesday, gold dropped by more than 2% to $1,290.30, the lowest settlement for a most-active contract since late December, according to FactSet data. Tuesday’s brisk retreat for the yellow metal also pushed it below its 200-day moving average, which stood at $1,307.80, for the first time since late December. On Wednesday, the 10-year Treasury note yield was at about 3.08%, pulling back from its highest levels since 2011, while the U.S. dollar, as measured by the ICE U.S. Dollar Index a measure of a half-dozen rival currencies, was up 0.1% at 93.33, after trading as high as 93.63—its highest level of 2018, according to FactSet data. Higher yields dent demand for nonyielding bullion and a strengthening greenback makes commodities priced in the currency, like gold, more expensive to buyers using other monetary units. (source: marketwatch)