Gold prices fall as US yields firm

Gold prices fall as US yields firm

2022-01-18 08:55:00 AM

Gold prices fall as US yields firm

Investors await cues from US Federal Reserve on timeline for rate hikes

Gold grain at a refinery in Russia. Picture: BLOOMBERG/ANDREY RUDAKOVBengaluru —Gold prices eased on Tuesday under pressure from  higher US Treasury yields as investors looked for clues about the Federal Reserve's interest rate hike timeline from its policy meeting next week.

Spot gold fell 0.1% to $1,817.11 an ounce by 4.14am GMT. US gold futures were little changed at $1,816.20.Global investor attention remains fixed on the US Federal Reserve’s January 25-26 meeting after central bank officials signalled they would start raising interest rates in March to tame inflation, which rose 7% last month from a year earlier — the fastest pace in nearly 40 years.

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