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Gold at One-Week Low

Gold at One-Week LowGold at One-Week Low

Gold hit a one-week low on Tuesday after US Treasury yields touched fresh highs as investors priced in a rate hike in December, but the precious metal’s losses were limited by rising uncertainty over the US growth outlook, BusinessLive reported. Yields on two-year US treasuries hit nine-year highs on Monday, supporting the dollar and reducing the appeal of non-yielding bullion. Spot gold was down 0.4% at $1,272.79 per ounce, having hit a one week low of $1,270.56. US gold futures for December delivery fell 0.5% to $1,272.70.

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