💨 Abstract

Gold prices fell for a fifth straight session on Thursday, reaching an eight-week low, due to a stronger US dollar and rising Treasury yields, amid uncertainty over the pace of the Federal Reserve's interest rate cuts. The U.S. dollar's advance to a one-year high and increased Treasury yields make gold more expensive for overseas buyers. Gold is a hedge against inflation, but higher interest rates decrease its appeal as a non-yielding asset.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖