Dollar, Treasury yields rise, weighing on gold
The dollar index hovered around 102.30 and the U.S. 10-year yield rose to about 5.324%, near multi-year highs, as traders awaited FOMC minutes for clues on Fed tightening.
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The dollar index hovered around 102.30 and the U.S. 10-year yield rose to about 5.324%, near multi-year highs, as traders awaited FOMC minutes for clues on Fed tightening.
Major Asian, US and European stock indexes were lower, while bonds and the dollar were mixed. The report also showed Brent crude higher and gold at a more than seven-week low.
Main US indexes red; Nasdaq off >1% Comm Svcs weakest S&P 500 sector; energy leads gainers Euro STOXX 600 Index up ~0.3% Dollar gains; US crude up >3.5%; bitcoin down ~1,5%; gold slides ~4% US 10-year Treasury yield rises to ~5.26% Welcome to the home for real-time coverage of markets brought to you by Reuters reporter
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EXECUTIVE SUMMARY * TRUMP HAILS IRAN TALKS EVEN AS TEHRAN SETS 'FIRM POSITIONS': #0244e48b-2945-4b3b-8085-728a924ddf38 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH: WSJ: #cddd3044-ae77-4efa-9233-fb28b1e6f368 * NAGEL SAYS 'VIGILANT' ECB MAY NEED MILDLY RESTRICTIVE RATES: #13be4029-5b8c-40
Gold and silver stayed under pressure in early trade Wednesday, with rising US Treasury yields, a stronger dollar and growing Fed rate-hike expectations weighing on non-yielding assets. COMEX gold futures fell 0.98% to $4,353.10/oz.
Shares of precious metal-related companies are trading higher as gold prices continue to rise, with Treasury debt repurchase expansion weighing on yields and dollar strength.