Gold inched lower on Tuesday as a firmer US dollar and higher yields weighed on the metal. Spot gold slipped 0.3% to $4,128.83 an ounce by 0400 GMT, while US futures held little changed at $4,155.90.
Ten- and 30-year Treasury yields hit 24-year highs on Monday as negative bond-market sentiment prevailed. Capital.com analyst Kyle Rodda says the fundamentals remain supportive long term, with geopolitical risk in the Middle East the likely next big catalyst — and that every piece of price data matters, since a shift in US rate expectations could trigger the next breakout.
Traders still price an 87% probability of a December Fed hike. Silver fell 0.6% to $60.69, platinum 0.5% to $1,712.20 and palladium 0.5% to $1,166.86.
The report is from Reuters, via The Business Times.
