NEW YORK: Gold prices edged lower on Tuesday as the dollar strengthened and bond yields rose, while investors awaited US economic data later this week for more clues on the rate-hike trajectory by the Federal Reserve.
Spot gold fell 0.3% to $1,836.13 per ounce by 11:37 a.m. ET (1637 GMT). US gold futures slipped 0.3% to $1,845.20.
The dollar index hovered around its highest in six weeks, making gold more expensive for other currency holders. Benchmark US 10-year yields were close to their three-month high.
“Those are bearish outside market forces and you’ve also got some keener risk aversion in the marketplace which at this point of the day is working against gold and silver,” said Jim Wyckoff, senior analyst at Kitco Metals.
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