Gold prices fell on Tuesday, weighed down by higher US bond yields, as markets await inflation data that could shed light on the scale of an expected interest rate cut from the Federal Reserve next month, reports Reuters.
Spot gold fell 0.2% to $2,512.63 per ounce, as of 9:53 am ET (1353 GMT), having eased from the record high of $2,531.60 hit last week. US gold futures eased 0.3% to $2,547.90.
The benchmark US 10-year yields rose, making the non-yielding bullion less attractive for overseas buyers.
Among other metals, spot silver fell 0.1% to $29.88 per ounce and platinum was down 0.6% to $956.20, while palladium gained 0.4% to $962.75.
Gold retreats as US yields firm
FE Team | Published: August 28, 2024 00:17:56
Gold retreats as US yields firm
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