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Gold edges higher in early Asian trade but remains below $4,120 at a multiweek low level. A firm U.S. dollar and a renewed rise in bond yields pressured the yellow metal overnight, with higher oil prices and Middle East tensions renewing inflation concerns, Christopher Tahir, senior market strategi…
Reuters trading day column says benchmark 10-year yields in France, Germany, the UK and the US rose to their highest since the mid-late 2000s. It also notes stocks fell, oil rose and gold hit a seven-week low.
Brent rose 1.6% to $106.00 a barrel and US crude added 1.1% to $93.47. The 30-year Treasury yield nudged up to 5.5185% while the dollar index hit two-month peaks.