Dollar Strength and Rising Yields Sink Gold Futures for Fourth Session

Gold futures declined for the fourth consecutive session due to the strengthening dollar and rising US Treasury yields.

Aamir Makda, commodity and currency analyst at Choice Broking, attributed the decline in gold prices to the strength of the dollar and US Treasury yields.

The dollar index reached its highest level in nearly two months, while the US 10-year Treasury yield approached 5.11 per cent.

Ashish Rajodiya, head of commodities at PL Capital, noted that stronger-than-expected US private sector employment data had added to inflation concerns and expectations of further interest rate increases by the Federal Reserve.