Gold Edges Lower as Housing Data Cools, Oil Prices Stay Elevated
Gold prices edged lower Tuesday as weak US housing data did little to ease inflation concerns or expectations of further Federal Reserve tightening. Silver rose, while elevated oil prices and Treasury yields complicated the outlook for precious metals.
Gold slipped on Tuesday after soft U.S. housing data failed to allay concerns over persistent inflation or the possibility of additional Federal Reserve tightening. Silver advanced, while elevated oil prices and rising Treasury yields remained headwinds for the precious-metals outlook.