Gold inches lower as firmer dollar, higher yields weigh
Gold eased on Tuesday , pressured by a firmer US dollar and rising Treasury yields, though losses were limited by easing expectations of a Federal Reserve interest rate hike this month. Spot gold slipped 0.3% to $4,128.69 per ounce by 0155 GMT. US gold futures were little changed at $4,156.00. The dollar held firm, making greenback-denominated commodities more expensive for holders of other…
Gold prices dipped slightly on Tuesday as a stronger US dollar and increasing Treasury yields weighed on the precious metal. However, the decline was subdued by expectations of a potential Federal Reserve rate hike this month. Spot gold fell 0.3% to $4,128.69 per ounce, while US gold futures remained stable at $4,156.00. The US dollar's firmness made gold more expensive for investors holding currencies other than the greenback.
Meanwhile, 10- and 30-year Treasury yields peaked at 24-year highs on Monday due to persistent weakness in the bond market. Despite the recent pullback, some experts believe gold's fundamentals remain favorable in the long run, with geopolitical tensions in the Middle East and potential shifts in US interest rate expectations as key catalysts.
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