Gold Really Goes Down

<p>&nbsp;Gold slipped to a one-week low after being pushed lower by the US dollar and stronger US 10-year bond yields.</p><p><br /></p><p>In the Asian session, the yellow metal traded at $1,925 per ounce, while gold futures were slightly lower at $1,950 per ounce.</p><p><br /></p><p>The hold on the yellow metal was eased as the US dollar resumed its strengthening on Tuesday after a slow move on Monday following the Labor Day holiday,</p><p><br /></p><p>Also adding to the pressure for gold trading was the rebound in US 10-year bond yields to a one-week high of 4.26%.</p><p><br /></p><p><br /></p><p>The expectation that the Federal Reserve (Fed) will maintain high interest rates for longer is seen to support the US dollar and affect gold prices.</p><p><br /></p><p>Fed Governor Christopher Waller said that there is currently nothing to force a move towards raising short-term borrowing costs again.</p><p><br /></p><p>However, recent data shows that inflation rates remain stable and indicate a very resilient economy, thus allowing the Fed to maintain a tight policy in the near term.</p>