Gold falls to $4,416 in Asian trading as yields climb
Business
Gold prices took a small dip in early Asian trading on Monday, landing at $4,416 per ounce.
The main reason? US Treasury yields are rising, which makes gold, an asset that doesn't pay interest, less appealing right now.
Silver, though, is holding steady at about $67.30 per ounce.
Analysts warn of West Asia volatility
Recent moves have pushed up Treasury yields and strengthened the US dollar, both of which are putting extra pressure on gold prices (especially for buyers outside the U.S.).
Even so, analysts say things could get bumpy soon: geopolitical tensions in West Asia and upcoming economic reports might shake up demand for gold in the short term.