Gold Prices Climb From 1-Week Lows in Risk-Off Trade

0 – Gold prices moved higher on Tuesday, pulling away from one-week lows as rising U.S. bond yields and concerns over the outlook for global growth soured market sentiment.

December gold futures were up $3.20 or 0.27% to $1,191.8 by 10:30 AM ET (14:31 GMT) on the Comex division of the New York Mercantile Exchange. Prices settled at $1,184.40 on Monday, the lowest close since Sept. 28.

Gold’s gains came as equity markets remained under pressure from the move higher in U.S. Treasury yields, which sent the yield on 10-year Treasury notes to a fresh seven-year peak earlier Tuesday.

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