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Gold falls to near two-month low as the US dollar firms
The drop comes as benchmark US Treasury yields climb to their highest levels since 2002, boosting the appeal of interest-bearing assets.
Gold prices fell to a near two-month low around $4,110 during the early Asian session on Thursday, according to FXStreet.
The outlet attributed the move to a stronger US dollar and elevated Treasury bond yields, which reduce demand for non-yielding bullion.
FXStreet also noted investors are watching speeches from Federal Reserve officials, including Christopher Waller and Alberto Musalem, as traders look for signals on the path of US rates.
The report added that rising oil prices have renewed inflation concerns, while CME’s FedWatch tool showed markets pricing a 78.3% probability of a December rate increase.
Latest closeGold $4,150.40 ▼0.3%