Gold Prices Rebound Amid Rising Yields and Oil Costs

Gold prices rebounded slightly on Tuesday, reaching above $4,200 an ounce, but remained below this level as traders assessed the impact of rising Treasury yields and oil prices.

The rebound comes after a sharp selloff in precious metals on Monday, when U.S. Treasury yields reached multi-decade highs and oil prices climbed.

Gold prices remain near their lowest level since early August, and higher-for-longer rate expectations have weighed heavily on demand for non-yielding assets, limiting the metal's recovery.

Traders currently expect a 72.5% probability of a Federal Reserve rate hike in October, which may further impact gold prices.