Gold prices steady near six-week low as bond yields rise
Gold steadied at $4,536.45 after hitting a six-week low on Monday. Rising bond yields and potential Fed rate hikes continue to pressure the non-yielding metal.
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Gold steadied during Monday morning after falling to $4,536.45 per ounce, its lowest level since March 30. Robust bond yields and persistent inflation fears triggered a global selloff in fixed-income markets. For investors, the rising opportunity cost of holding non-yielding assets suggests gold may face continued technical resistance.
