SingaporeGold fell to a 7-week low near $4,125 an ounce.
Gold-saving households across India and Pakistan see their savings shrink as the metal slides.
Saxo Bank’s Ole Hansen said US 10-year real yields hit an 18-year high near 2.85% as war-driven oil feeds inflation fears.
“Investors who had turned to gold will see a hit,” said Sherif Othman, CEO of Poise Investment Advisors.
CME data show a 70% chance of an October Fed hike, pending this week’s jobs and inflation figures.
How each outlet framed it
drawn from 100+ reports worldwide
- Reuters
- Al Jazeera Online
- quotes analyst on disconnect between gold's inflation-hedge reputation and current high-rate environment
- The Financial Express
- reports US 10-year real yields at 18-year high; cites Saxo analysis of yield pressure making non-yielding assets increasingly difficult
Sources: The Financial Express, Reuters, Al Jazeera Online