Gold Prices Dip Amid Higher US Treasury Yields

Gold prices dipped in early Asian trade on Monday (September 21) due to higher US Treasury yields, while silver maintained gains near $67.30 an ounce. The COMEX gold price was at $4,416 an ounce, down 0.20% or $8.90 from the previous day.

The move in gold comes as US Treasury yields remain elevated, with the benchmark two-year Treasury yield rising sharply in recent sessions. This has led to markets reassessing the path of US monetary policy following the Federal Reserve's latest guidance.

Rising bond yields can weigh on gold because it does not generate interest income. A firm US dollar also adds pressure on bullion, making dollar-denominated commodities like gold and silver more expensive for buyers holding other currencies.