Gold edges lower in the early Asian session, weighed by higher U.S. Treasury yields that undermine the appeal of the non-interest-bearing precious metal.
The U.S. inflation report released overnight was hotter than expected, spurring a surge in the 10-year Treasury yield, says IG's Axel Rudolph in an email. Also, Fed rate-cut expectations are being pared back to July, the senior technical analyst adds.
Spot gold is 0.1% lower at $2,901.61/oz.
Source : Dow Jones Newswires
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