Gold Edges Lower in Asian Morning Session as US Treasury Yields Tick Up

Deep News07:42

Gold prices experienced a slight decline during early trading in the Asian market, coinciding with a modest rise in US Treasury yields, which typically reduces the appeal of the non-yielding asset. Sherilyn Chew from DBS Group Research commented, "Gold's performance is expected to be largely dictated by yield movements. In the absence of a clear downward shift in interest rates, this could cap any significant near-term upside." The multi-asset strategist added, "ETF holdings and speculative positions are relatively light, with investors largely staying on the sidelines amid skepticism about immediate upward potential." Spot gold was down 0.1% at $4,538.27 per ounce.

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