Gold Prices Flat as Dollar Takes a Breather

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Investing.com – Gold prices were largely unchanged Wednesday as investors grappled with rising U.S. interest rates, although the metal drew some support from the dollar coming off a seven-week high.

Comex gold futures were down 20 cents at $1,191.30 a troy ounce by 10:28AM ET.

Meanwhile, spot gold was trading at $1,188.35 per ounce, down $1.50, or 0.1%.

Yields on the benchmark 10-year Treasury note rose to around 3.23% after reaching a seven-year top of 3.261% a day earlier.

Treasury yields have surged recently following a batch of upbeat economic data that bolstered the case for the Federal Reserve to raise rates in December and beyond.

Read more at : https://www.investing.com/news/commodities-news/gold-prices-flat-as-dollar-takes-a-breather-1638824

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