Gold Rebounds as Dollar, Yields Dip

Gold prices advanced on June 2, 2026, reversing early session losses, as the U.S. dollar weakened and Treasury yields retreated, boosting the metal's appeal. Spot gold rose 0.8% to $2,345.60 per ounce, while gold futures for August delivery climbed $18.50 to $2,352.10. The dollar index fell 0.3% to 103.45, making gold cheaper for holders of other currencies. The yield on the benchmark 10-year Treasury note slipped 4 basis points to 4.12%, reducing the opportunity cost of holding non-yielding assets. The gains came after two straight sessions of declines driven by hawkish Federal Reserve commentary, but softer manufacturing data released earlier in the session revived expectations that the central bank may pause rate hikes later this year, lending support to precious metals.