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Gold slips from $4,200 as Treasury yields rebound ahead of US CPI
XAU/USD was last around $4,164, while the 10-year US Treasury yield rose to about 5.22% from 5.17% intraday.
Gold prices reversed earlier gains on Tuesday, trading little changed during American hours as US Treasury yields recovered after dropping earlier in the day, according to FXStreet.
At the time of writing, XAU/USD traded around $4,164, down from an intraday high near $4,200, while the US Dollar Index was about 102.25 after reaching 102.61 on Monday.
FXStreet also noted that the benchmark 10-year Treasury yield rebounded to roughly 5.22% from an intraday low of 5.17%, with the US dollar still under pressure.
The outlet cited ongoing expectations that the Federal Reserve may need to keep rates higher for longer, reinforced by energy-linked inflation risks tied to Middle East tensions, and referenced Cleveland Fed President Beth Hammack's comments that she prefers smaller rate moves but wants the Fed to act relatively quickly.
Latest closeGold $4,157.80 ▲0.4%|Dollar index 102.12 ▼0.1%