Gold Hits $1,900 High for First Time in 20 Weeks

By Barani Krishnan – Gold hit $1,900 highs on Tuesday for the first time in 20 weeks as retreating U.S. bond yields and the dollar helped the yellow metal reach a pivotal place for longs in the yellow metal hoping to reprise last year’s all-time peaks.

on New York’s Comex was at $1,898.25 an ounce by 2:25 PM ET (18:25 GMT), up $14.05, or 0.8%, on the day. It hit a session high of $1,900.45 earlier, the first time since Jan. 9 that it had gotten to such a level.

Yields tied to the was down 2.5% to 1.57.

The , which pits the greenback against the and five other major currencies, was down 0.2%, to 89.65.

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