Gold Down Amid Rising Bond Yields
Gold fell amid rising global bond yields and uncertainty over the Federal Reserve’s interest rate path through 2025.
The U.S. jobs report on Friday showed remarkable resilience in the labor market, leading economists at several major banks to cut their forecasts for additional rate cuts.
Lower interest rates are usually positive for bullion, which pays no interest.
The yield on the ten-year Treasury note — the rate that underpins the global cost of capital — hit a 14-month high on Monday.
Traders are awaiting a slew of further economic data, including the New York Fed’s one-year inflation expectations due on Monday, producer prices on Tuesday and the consumer price index on Wednesday.
Source: Bloomberg
