Gold prices edged lower on Tuesday, October 6, as a firmer US dollar and elevated Treasury yields weighed on the metal. Reuters reported that spot gold was down about 0.3% at $4,127.87 an ounce at 06:20 GMT.
A stronger dollar makes dollar-priced gold more expensive for buyers using other currencies. Higher bond yields can also reduce the relative appeal of bullion, which does not pay interest.
Losses were limited as investors lowered expectations of a Federal Reserve rate increase this month. US employment data released on Friday showed slower-than-expected job growth in September, alongside downward revisions to the previous two months.
The report said US 10-year and 30-year Treasury yields had reached 24-year highs on Monday. That leaves gold facing pressure from borrowing costs even as uncertainty about monetary policy continues to support demand.
Further economic releases and developments in the Middle East remain relevant to the outlook. The quoted gold price is a snapshot from Tuesday’s trading.
