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Gold rebounds as Treasury yields and the US dollar pull back
Gold recovered after dipping to a two-month low of $4,104 in Asian trading, while the 10-year Treasury yield eased to about 5.269% from 5.349% late Monday.
Gold prices rebounded on Tuesday after US Treasury yields pulled back, which also weighed on the US dollar, allowing the metal to recover from earlier weakness, according to FXStreet.
During Asian trading hours, gold fell to a two-month low of $4,104, and by the time of writing it was trading around $4,173, up 0.82% on the day.
FXStreet said the benchmark 10-year US Treasury yield eased to about 5.269% after touching 5.349% on Monday, its highest level since 2002, while the US Dollar Index retreated toward 101.80 from a year-to-date high of 102.53.
The outlet added that gold remained largely confined between $4,100 and $4,200, with yields still near multi-year highs keeping pressure on demand and limiting follow-through buying.
Latest closeGold $4,150.40 ▼0.3%|Dollar index 102.19 ▲0.3%