Gold prices fall over 2 percent as firmer dollar and yields rise
Gold fell to its lowest since March 30 as a firmer dollar and high yields weighed on prices. Investors now await Fed minutes to gauge future interest rate paths.
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Gold fell 2% to $4,474.40 per ounce on Tuesday morning as a strengthening dollar and rising Treasury yields pressured bullion. Prices reached their lowest level since March 30 during the session. U.S. gold futures for June delivery lost 1.8% to $4,476.80.
Benchmark 10-year Treasury yields held near a more than one-year high while the dollar index strengthened. Both rose as investors prepared for a possible hawkish shift by the Federal Reserve to curb energy-driven inflation.
