Gold declines over 1% as US Treasury yields rise
Gold prices declined by more than 1.2% today, Tuesday, due to an increase in U.S. Treasury bond yields, which raised the cost of holding non-yielding gold. The spot price of gold per ounce dropped to $4,393.89, while futures contracts also fell by 0.9% to $4,443.10. The market is awaiting important data on the U.S. labor market to gather indicators about the Federal Reserve's monetary policy outlook. Additionally, other precious metals such as silver and palladium also declined, while markets remain watchful of the potential impacts of these movements on financial and commodity markets.
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