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Gold dips near two-week low as Treasury yields hit highs
XAU/USD fell to about $4,330 as US Treasury yields rose to their highest since January 2025 and the dollar strengthened amid Middle East tensions.
Gold prices fell to near a two-week low around $4,330 in early Asian trade on Wednesday, with XAU/USD facing renewed selling pressure, according to FXStreet.
The move tracked higher US Treasury yields and a stronger US dollar, FXStreet said, noting that yields rose to their highest since January 2025 after escalating tensions in the Middle East stoked inflation fears and sparked a global bond selloff.
FXStreet also pointed to hawkish signals from Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium, where Warsh warned policymakers may need to tighten again if inflation does not move convincingly toward 2%, a view that boosted traders expectations for a potential September rate hike.
The next catalyst will be US jobs data for August later on Friday, FXStreet said, adding that any sign of weakening in the labor market could pull down the dollar and support the near-term outlook for the dollar-denominated metal.
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