Gold slips as dollar firms

Gold prices edged lower on Tuesday, October 6, pressured by a stronger US dollar and elevated US Treasury yields.

According to Reuters, spot gold fell 0.3% to $4,128.69 per troy ounce by 01:55 GMT, while US gold futures were largely flat at $4,156 per ounce. A firmer dollar weighed on the precious metal by making bullion more expensive for overseas buyers, while 10- and 30-year US Treasury yields touched 24-year highs on Monday.

However, bullion's losses were capped by tempered expectations of an October interest rate hike by the US Federal Reserve, alongside persistent Middle East geopolitical tensions that underpinned safe-haven demand.

N.Tebrizli