Gold falls to one-week low on rising Treasury yields
Gold fell to a one-week low of $4,557.25 as rising oil prices lifted yields. Markets are pricing out rate cuts as inflation fears boost the US dollar.
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Gold fell 2% to $4,557.25 per ounce on Friday morning, hitting its lowest level in one week. Prices extended a four-session decline as benchmark 10-year United States Treasury yields climbed toward one-year highs. Rising yields and a stronger dollar increase the opportunity cost for investors holding non-yielding bullion. U.S. gold futures for June delivery lost 2.7% to $4,561.30, reinforcing the broad selloff across gold markets.
