Gold Declines as Treasury Yields Advance, Dollar Pares Losses
- Gold ‘is sort of caught between cross-currents’: INTL FCStone
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Gold slipped as the dollar pared losses and yields on U.S. Treasuries surged, damping the appeal of the metal because it doesn’t pay interest.
Yields on 10-year Treasuries reached a one-month high after a key measure of U.S. consumer prices rose more than forecast in June. The price report could complicate the Federal Reserve’s assessment of inflation as policy makers weigh an interest-rate cut as soon as this month.