Gold dips as oil-driven inflation fears lift rate bets
Gold prices fell due to a stronger dollar and higher Treasury yields. Oil rallies fueled inflation worries and rising rate hike expectations. Traders now await the upcoming Federal Reserve decision.
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Gold fell 0.1% to $4,293.29 per ounce during Tuesday afternoon trade, pressured by a stronger United States dollar and rising Treasury yields. The drop follows a crude oil rally that triggered fresh inflation concerns ahead of this week's central bank meeting. Benchmark 10-year Treasury yields rose to their highest level since 2007, dulling the appeal of non-yielding bullion.
