Gold falls amid dollar gain and higher yields
The price of gold has fallen to around $4,130 per ounce, due to the strength of the dollar and rising US Treasury yields, despite a decrease in the expectations of interest rate hikes in October. The increase in bond yields and the robust performance of the dollar have raised the cost of holding non-yielding gold, with the likelihood of a rate hike in December remaining around 87%. Although expectations for rate increases have eased, high inflation and geopolitical market pressures continue to serve as supportive factors for gold in the long term.
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