Gold Drops Over 1 Percent As Treasury Yields Rise
Gold fell more than one percent as elevated U.S. Treasury yields pressured bullion. Markets now await key U.S. labor market data for Federal Reserve policy clues.
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Gold fell 1.4% to $4,386.37 an ounce during Tuesday's late morning trade, pressured by rising Treasury yields. The drop followed a touch to its lowest level since August 19 at $4,362.89. Higher bond yields increased the opportunity cost of holding non-yielding bullion.
