Spot gold was down 0.1% at $1,276.26 per ounce at 1.24pm. Photo: ReutersGold prices inched down on Tuesday, hurt by higher US Treasury yields amid uncertainty over the outlook for tax reforms in the US. Higher US bond yields can pressure gold prices as they reduce the appeal of non-yielding bullion. “Gold prices continued to trade in a very tight range as investors await cues from global markets,” ANZ said in a note. The US treasury bond yields are also putting some pressure (on prices),” said a Hong Kong-based trader.
Source: Mint November 14, 2017 11:26 UTC