Gold prices dip as stronger dollar weighs, ounce at $4,128.69
Gold prices fell on Tuesday as a stronger dollar and higher US Treasury yields pressured the market, though losses were limited by easing Fed rate hike expectations.
Key Takeaways
AIGold prices declined on Tuesday, pressured by a stronger US dollar and rising Treasury yields, though losses remained limited as expectations for a Federal Reserve interest rate hike this month eased.
Spot gold fell 0.3 percent to $4,128.69 per ounce, while US gold futures edged slightly lower to $4,156.
According to Reuters, Kyle Rodda, senior financial market analyst at Capital.com, said, "The fundamentals remain supportive for gold in the long term, and the next major catalyst is likely to come from geopolitical risks in the Middle East."
He added, "Alternatively, any significant change in US interest rate expectations could provide a boost for a fresh upward breakout, so all price data will be important."
Among other precious metals, spot silver slipped 0.6 percent to $60.67, platinum fell 0.7 percent to $1,710.08, and palladium dropped 0.2 percent to $1,170.15.