Gold Dips on Rise in US Govt Bond Yield

Posted By: Religare
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Gold futures closed lower in the international market on Thursday as a global rise in government bond yields diminished the appeal of investing in precious metals that don't bear interest.

Gold Dips on Rise in US Govt Bond Yield

Moves were fueled in part by a world-wide selloff in bonds that pushed prices of sovereign paper lower and yields higher. A rise in yields can undercut appetite for metals like gold and silver.

Continued weakness in the U.S. dollar, meanwhile, is bullish for gold, which is priced in the greenback.

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