Gold Prices Tumble 26% From January Record
Gold prices fell 26 percent from their January record following a surge in United States Treasury yields, according to the Seoul Economic Daily.
Gold prices have dropped 26 percent from their January record high, according to a report published by the Seoul Economic Daily. The downward move in the precious metal coincides with a sharp surge in United States Treasury yields.
Yield Pressures
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The rising yield environment in the United States has weighed heavily on non-yielding bullion, dragging prices down significantly from earlier record levels. Market participants noted the direct correlation between the climb in government bond yields and the correction in gold.
Key facts
- Gold prices fell 26 percent from their January record
- The drop was driven by a surge in United States yields
- Reporting was published by the Seoul Economic Daily
Source: news.google.com
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