“Gold prices are seeing some relief after being hit by rising US Treasury yields on Monday. Rising returns could be the bullion’s scourge in the first half of 2022, as a rise of expectations of rate hikes from the Fed could dampen demand for the non-interest bearing precious metal, “said Han Tan, chief market analyst at Exinity.
“Nevertheless, persistent concern over a possible worsening of the global battle against COVID-19 it should offer some support to gold prices pending the global outlook improves significantly, “added Tan.
The dollar index and benchmark 10-year US Treasury yields remained strong on Tuesday, having driven strong bullion declines in the latest session.
In other precious metals, spot silver was down 0.3% at $ 22.79 an ounce; platinum was up 0.7% at $ 961.40; and palladium was up 2.4% at $ 1,868.68.
Source From: Ambito
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