Gold Holds Firm as Fed Rate-Hike Expectations Soften

Spot gold prices held firm despite elevated Treasury yields as Federal Reserve rate-hike expectations softened.

The S&P 500 rose 14.91 points, or 0.19%, to 7,666.45, while the Dow Jones Industrial Average added 20.51 points, or 0.04%, to 50,926.56.

Market positioning remains centered on the divergence between easing near-term Fed expectations and stubbornly high long-term yields.

The key outside markets saw Nymex WTI crude oil prices lower and trading near $90.99 a barrel, while Brent crude was trading just below $100.00 a barrel.