Gold Prices Mixed As Bond Yields Rise
Gold prices moved lower on Tuesday morning after 10-year U.S. Treasury yields jumped to their highest in five weeks on speculation of a shift in BoJ policy and expectations of further gradual interest-rate increases from the Federal Reserve, despite criticism from U.S. President Donald Trump.
Spot gold was marginally higher at $1,224.75 an ounce while U.S. gold futures for August delivery were down about 0.1 percent at $1,225 an ounce.
The dollar index held steady after having coming under selling pressure last week following Trump’s attack on the U.S. central bank.
The Bank of Japan policy meeting is scheduled for July 30-31, with traders waiting to see whether the central bank will announce measures to scale back its massive monetary stimulus.
Elsewhere, Iran on Monday dismissed the U.S. president’s threats as psychological warfare and vowed to resist any efforts to destabilize their government.
The Bloomberg reported that Mexico is reviving efforts to rework the North American Free Trade Agreement (NAFTA) when trade ministers from Mexico and the United States meet this week. Trump on Monday hinted that a “very dramatic deal” is in the works.
by RTTNews Staff Writer
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