Gold spot tumbles as Wall Street closes, but earlier printed a six-month low of $1857.82, as US Treasury bond yields skyrocketed, a headwind for the yellow metal. Nevertheless, the XAU/USD trimmed some of its losses as US bond yields retraced. At the time of writing, the non-yielding metal trades at $1866.44 after hitting a daily high of $1879.58, down 0.49%
Gold prices experience a tumble, reaching a six-month low of $1857.82, as rising US Treasury bond yields and a strong USD are headwinds for the precious metal
Market sentiment improved on Thursday, while US Treasury bond yields retreated from multi-year highs of around 4.68% to 4.577%. Consequently, the Greenback (USD) is weakening, as portrayed by the US Dollar Index (DXY), down 0.49%, at 106.13.
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