Gold prices slips as Treasury yields rise, data in focus
Photo: Reuters
Gold prices eased on Tuesday after hitting a six-week high, as rising U.S. Treasury yields and profit-taking pressured the market. Spot gold fell 0.3% to $4,218.71 per ounce, while December gold futures dropped 0.6% to $4,250.70.
Investors are awaiting key U.S. data, including Wednesday’s ADP employment report and Friday’s PCE inflation index, to assess the Federal Reserve’s policy. Traders see an 88% chance of a December rate cut, which could support gold, News.Az reports, citing Reuters.
SPDR Gold Trust holdings rose 0.44% to 1,050.01 tons. Silver, platinum, and palladium also retreated amid cautious market sentiment.
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