Gold traded lower for a second day midafternoon on Tuesday as the dollar and treasury yields rose following a sharp drop on Monday.
Gold for December delivery was last seen down US$13.10 to US$2,431.30 per ounce.
The drop follows Monday's market turmoil caused by recession worries as weak U.S. jobs data on Friday and a surprise hike in Japanese interest rates sent investors scurrying to the safe haven of government bonds and away from equities and commodities.
The dollar rose off a five-month low touched Monday, with the ICE dollar index last seen up 0.31 to 102.99.
Treasury yields rose, bearish for gold since it pays no interest. The U.S. two-year note was last seen up 7.9 basis points to 4.016%, the lowest since September 2022, while the 10-year note was last seen paying 3.908%, up 11 basis points.
Source : MT Newswires
