Gold pressured by stronger dollar and bond yields
Gold prices declined under pressure from a stronger dollar and rising US Treasury yields.
Spot gold fell 0.3% to $4,128.69, while US gold futures were little changed at $4,156.
US 10-year and 30-year Treasury yields climbed to their highest levels in 24 years, increasing pressure on gold. However, weaker employment data reduced expectations for a Fed rate hike in October, limiting the decline. Markets are pricing in an 87% probability of a rate hike in December.
Comments