Weekly Gold Review: COMEX futures test two-month low, rising treasury yields weigh on sentiments
Mumbai, Oct. 3 -- Gold futures saw lax moves this week after hefty losses in last few days to test around two-month low. COMEX Gold gave a downbeat performance in Sep-26, sliding around 5.80% after a 9% spike in previous month. Rising US treasury yields are capping upmove in the metal and the counter ended at $4170 per ounce, down around 3.50% for the week. Gold climbed back above $4,200 an ounce but failed to sustain as a stronger US dollar, hovering above 101 mark along with growing expectations of further Federal Reserve rate hikes, continued to weigh on the bullion counters. The US Treasury yields hit their highest level in more than two decades as a global bond sell-off deepened and US markets eyed the nonfarm payrolls data. The 10-yea...
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