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Gold trades near $4,140 as higher US yields pressure the metal

FXStreet said the 10-year Treasury yield rose to about 5.349% before easing to around 5.30%.

Reported · Written up by our desk · Precious Metals

Gold prices held steady near $4,140 in the early Asian session on Tuesday, with the market citing a tug of war between higher rates and shifting expectations for the Federal Reserve, according to FXStreet.

The outlet said a stronger US dollar and elevated Treasury yields weighed on bullion, while expectations of a Fed rate hike this month eased after US nonfarm payrolls came in weaker than expected in September and prior months were revised lower.

FXStreet added that the benchmark 10-year Treasury yield climbed about 7 basis points to roughly 5.349%, its highest level since April 3, 2002, before retreating to about 5.30%. It also said the 30-year yield rose about 3 basis points to around 5.661%.

Latest closeGold $4,170.90 ▲0.2%

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