Commodities
Home›Commodities›Precious Metals›Gold slips below $4,150 as US yields and dollar weigh
Gold slips below $4,150 as US yields and dollar weigh
XAU/USD was down 0.27% to $4,132, while the US 10-year yield rose to 5.341% and the DXY gained 0.25% to 102.17.
Gold prices drifted lower on Monday, with XAU/USD trading at $4,132, down 0.27%, after a strong US dollar and elevated Treasury yields weighed on bullion, FXStreet reported.
The US 10-year Treasury note yield rose six basis points to 5.341%, while the US Dollar Index climbed 0.25% to 102.17, reducing gold’s appeal amid a generally upbeat market mood.
FXStreet pointed to US data showing the ISM Services PMI for September edging down from 55.4 to 54.9, with input costs rising above forecasts as prices paid increased from 72.6 to 74 versus the expected 73.3.
The outlet also noted that last week’s Core PCE data was mostly unchanged, leading investors to trim expectations for a more hawkish Fed, which had briefly supported gold before Monday’s decline.
Latest closeGold $4,170.90 ▲0.2%|Dollar index 102.12 ▲0.2%