Gold Falls to Two-Week Low on Rising Yields
Gold dropped more than two percent to a two-week low as elevated Treasury yields and a stronger dollar weighed on prices. Technical selling accelerated after bullion broke below its two-week moving average amid global bond selloffs.
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Gold dropped 2.4% to a two-week low of $4,342.20 per ounce during Tuesday afternoon trade as elevated Treasury yields and a stronger U.S. dollar weighed on prices. The pullback followed a breach of its 200-day moving average, triggering technical selling across precious metals.
