Gold Rebounds as Treasury Yields and USD Pull Back

Gold prices declined on Tuesday, as Treasury bond yields pulled back from their year-high, which also increased selling pressure on the U.S. Dollar (USD).

The yellow metal futures for April delivery rose by 2.14% 1,713.80 per ounce and reached a high of $1,718.05 earlier today.

This is attributed to the decline of the USD, as the Dollar Index (DXY) that measures the greenback’s performance against a basket of international rivals was last lower for the day by 0.37% at 91.98.

Meanwhile, the benchmark 10-year Treasury bond yield is down by about six basis points at 1.541%. It has been moving today in a range between 1.526% and 1.599%, nearing its lowest level in about a week.