Gold Slips Below $4,400 as US Yields Rise and Iran Tensions Escalate

Gold (XAU/USD) prices dipped below $4,400 on Tuesday as the US Dollar gained traction due to rising Treasury yields and concerns over a potential escalation of hostilities in the Middle East.

The safe-haven US Dollar benefited from growing tensions between the US and Iran, with President Trump threatening to bomb Oman and Iran announcing a shift to a 'fully offensive' military stance.

US Treasury yields are also on the rise, reaching a one-year high above 4.7% for the 10-year yield and fresh 19-year highs above 5.3% for the 30-year yield.

This has put pressure on gold, which remains below the $4,500 resistance level that has capped its gains in recent days.