Gold falls to two-week low as rising Treasury yields, dollar weigh
GLD•Other precious metals also decline
Spot silver XAG= slid 2% to $65.25 an ounce, platinum XPT= fell 1% to $1,773.89 and palladium XPD= was down 2.4% at $1,324.00.
Gold falls to two-week low as yields and dollar rise
Gold dropped more than 2% on Tuesday to a two-week low as elevated Treasury yields and a stronger U.S. dollar weighed on prices, while bullion's break below its 200-day moving average triggered additional technical selling.
Spot gold XAU= was down 1.7% at $4,371.50 per ounce at 11:52 a.m. ET (1552 GMT), after touching its lowest since August 19 at $4,362.89 earlier in the session. Bullion dropped below its 200-day moving average — currently around — on August 28.
