Gold falls 2% amid bond gains
Gold prices declined by 2% to reach their lowest level in two weeks, recording $4,360.39 per ounce. This decrease was driven by rising U.S. Treasury bond yields and a stronger dollar, along with increased selling pressures due to escalating inflation and rising geopolitical risks. Additionally, expectations of the Federal Reserve raising interest rates later this month contributed to the downward trend. This decline was accompanied by drops in other precious metals such as silver, platinum, and palladium, amid rising yields and growing economic concerns.
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