Gold Hits Five-Week Low Amid Soaring US Treasury Yields
Gold prices have hit a five-week low due to increased US Treasury yields, which reached 5.02% and their highest level since 2007.
The rise in Treasury yields has led investors to pivot away from non-yielding assets like gold, which does not pay interest or dividends.
Indian MCX gold futures are reflecting this pressure, trading around Rs 1,51,155 per 10 grams.