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Gold rebounds after Treasury yields pull back
The 10-year US Treasury yield eased to about 5.269% after touching 5.349% on Monday, helping gold climb amid a softer US Dollar Index.
Gold recovered on Tuesday after a modest pullback in US Treasury yields weighed on the US dollar, allowing XAU/USD to rebound from a two-month low.
At the time of writing, gold was trading around $4,156, up 0.41% on the day, after slipping to $4,104 earlier in Asian trading.
The benchmark 10-year Treasury yield eased to roughly 5.269% following a Monday peak near 5.349%, its highest level since 2002, while the US Dollar Index retreated toward 102.00 after hitting a year-to-date high of 102.53.
FXStreet also noted that gold remains capped in a recent $4,100 to $4,200 range, with yields staying near multi-year highs and continuing to raise the opportunity cost of holding non-yielding bullion.
Latest closeGold $4,157.80 ▲0.4%|Dollar index 102.12 ▼0.1%