HIBAPRESS – Agencies
Gold prices declined on Tuesday, October 6, under pressure from the rise in the dollar and US Treasury yields, while losses remained limited due to diminishing expectations of the Federal Reserve (the US central bank) raising interest rates this month.
Gold fell in spot trading by 0.3 percent to $4128.69 per ounce, while US gold futures moved slightly to $4156.
The dollar maintained its gains, increasing the cost of the dollar-denominated metal for holders of other currencies, while 10- and 30-year US Treasury yields recorded their highest levels in 24 years on Monday, amid continued negative sentiment in the bond market recently.
For other precious metals, silver in spot trading fell by 0.6 percent to $60.67, platinum by 0.7 percent to $1710.08, and palladium by 0.2 percent to $1170.15.
