Gold hits six week low on firm dollar and high yields
Gold prices fell to a six-week low on Wednesday as high Treasury yields and a strong dollar reduced bullion demand. Investors now await Federal Reserve minutes.
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Gold fell 0.2% to $4,472.09 per ounce on May 20, as of 0615 GMT, hitting its lowest level since March 30. Elevated 10-year United States Treasury yields and a six-week high for the dollar pressured the non-yielding metal. Rising Treasury yields increase the opportunity cost of holding bullion.
