Gold Slips Below $4,300 as Higher US Yields Lift Fed Rate Hike Bets
Gold fell to near $4,295 in early Asian trading Tuesday as rising bond yields and energy prices strengthened expectations for US Federal Reserve rate hikes.
XAUUSD
Gold traded near $4,295 during the early Asian session on Tuesday, dipping below the $4,300 level. The move came as rising US bond yields and surging energy prices added to expectations that the Federal Reserve will raise interest rates.
Higher yields tend to weigh on non-yielding assets like gold, while stronger rate hike bets can support the dollar and pressure precious metals. The XAU/USD pair faced selling pressure in that environment.
No additional drivers were specified in the source update.
Source: FXStreet Forex News