Commodities
Gold Price Tumbles Amid Rising Yields and Strong Dollar
Gold prices have taken a hit over the past week, plummeting by 2.13% to close at $4,285 on Friday.
The rise in the 10-year Treasury yield above 5%, along with a strong dollar that gained 0.82% over the week, has put pressure on gold prices.
However, both the Treasury yield and the dollar eased slightly on Friday, but gold found little relief.
The upcoming PCE inflation report on Wednesday could provide insight into whether this pressure will continue to affect gold prices.