BENGALURU- Gold inched lower on Thursday, pressured by a stronger US dollar and rising Treasury yields, while investors awaited a key inflation report to assess the Federal Reserve’s policy path.
Spot gold was down 0.1 percent at $2,912.94 an ounce. US gold futures fell 0.1 percent to $2,927.20.
The dollar index rose 0.2 percent against its rivals to move further from recent 11-week lows as vague pledges from President Donald Trump to impose tariffs on Europe and further delays to levies planned for Canada and Mexico stoked uncertainty.
Benchmark 10-year US Treasury yields also rebounded from an earlier drop, making non-yielding gold less appealing.
“A light pickup in the dollar and US Treasury yields seen to be pressuring gold a bit in this session,” said Ilya Spivak, an investment analysis streaming site Tastylive, adding that the overall uptrend for gold is broadly intact.
Several Fed officials are due to speak later in the day for more insights on monetary-policy easing this year.
Markets will next look to the Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation measure, due on Friday, for further confirmation of the central bank’s interest rate path.
