KONTAN.CO.ID - JAKARTA. Gold prices fell more than 1% on Wednesday as surging U.S. Treasury yields and a firmer dollar dented demand for the safe-haven metal. Spot gold was down 0.9% at $1,787.96 per ounce by 10:14 a.m. ET (1514 GMT). U.S. gold futures slipped 1.1% to $1,786.80. "Rising bond yields continue to weigh on the gold market. Gold has not found any path to a sustainable recovery even with talks about additional stimulus measures," said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
Gold drops over 1% as U.S. Treasury yields, dollar rise
KONTAN.CO.ID - JAKARTA. Gold prices fell more than 1% on Wednesday as surging U.S. Treasury yields and a firmer dollar dented demand for the safe-haven metal. Spot gold was down 0.9% at $1,787.96 per ounce by 10:14 a.m. ET (1514 GMT). U.S. gold futures slipped 1.1% to $1,786.80. "Rising bond yields continue to weigh on the gold market. Gold has not found any path to a sustainable recovery even with talks about additional stimulus measures," said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.