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October 27, 202188 views0

Reuters

Gold dips on robust dollar, higher yields ahead of key central bank meetings

Gold prices retreated further on Wednesday from a key $1,800/ounce level, as a robust dollar and higher U.S. bond yields dented bullion’s appeal while investors assessed how central banks would address rising inflation pressures. Spot gold fell 0.2% to $1,788.40 per ounce by 0351 GMT, declining 1.2% since rallying to a more than one-month high late last week. Benchmark 10-year U.S. Treasury yields rose, increasing the opportunity cost of holding the non-interest bearing metal.