Commodities
Gold Prices Dip Amid Rising Treasury Yields and Oil Risk Premium
Gold and silver prices have taken a dip in early US trading, despite fading expectations for a September Federal Reserve rate hike.
The spot gold price is currently at $4,390.40 an ounce, while silver sits at $64.89 per ounce.
The decline in precious metals comes as rising long-term Treasury yields and increased oil-risk premiums weigh on prices.
Rising energy prices and geopolitical tensions have driven 10-year Treasury yields to hit 4.74%, with the 30-year yield reaching levels not seen since 2007.
Oil prices remain elevated, supporting inflation risks and defensive demand for gold, but higher yields limit the upside potential of gold.