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Gold Slips Amid Higher Bond Yields, Uncertainty on Fed Rate Path
Gold edged lower amid an increase in global bond yields and continued strength in the dollar, as traders weighed prospects for US interest rate cuts. Ten-year Treasury yields — the rate that underpins the global cost of capital — touched a 14-month high Monday. A gauge of the greenback’s strength was up for a fifth day. Both reduced bullion’s appeal as gold pays no interest and is priced in the US currency. Traders are awaiting a raft of economic data to gauge the Fed’s interest-rate cut path this year. A blowout jobs report Friday has led economists at major banks to pare back forecasts for additional rate ... (full story)