Gold Prices Climb on Declining US Treasury Yields

Gold prices have risen as US Treasury yields decline, according to market data. This shift in sentiment has seen gold spot prices increase by 0.3 percent to $4,357.31 per ounce.

US gold futures for December delivery also climbed 0.3 percent to $4,395. The decline in US Treasury yields is a key factor driving the rise in gold prices, as investors often turn to the metal as a hedge against inflation and geopolitical risks.

However, it's worth noting that rate hike expectations have capped the gains in gold prices. The US central bank raised its benchmark interest rate by a quarter of a percentage point last week and signalled the possibility of further increases in the coming months.