Gold hits one-week low as higher U.S. yields weigh

Reuters/Maytaal Angel/11/14-17

Gold hit a one-week low on Tuesday after U.S. Treasury yields touched fresh highs as investors priced in a rate hike next month, but the precious metal’s losses were limited by rising uncertainty over the U.S.
growth outlook.

…rising nearby yields flattened the U.S. treasury yield curve, in part reflecting market wagers that rising rates this year and next will eventually slow the economy.

These fears, coupled with uncertainty over the outlook for U.S. tax reforms, kept gold’s losses in check, hitting investor risk appetite and increasing gold’s appeal as a safe haven asset.

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