A previous version of this report included an incorrect timeframe for gold’s lowest finish. This has been corrected. Gold futures declined Tuesday to mark their lowest finish since early January. Despite the sharp rise in U.S. Treasury yields and the strength of the U.S. dollar, gold prices are only slightly weaker, “perhaps reinforcing the idea that these U.S. dollar moves have more to do with position adjustments ahead of [Wednesday’s] Fed minutes, which could come out as unexpectedly hawkish,” said Michael Hewson, chief market analyst at CMC Markets UK. Gold for April delivery GCJ23 fell $7.70, or 0.4%, to settle at $1,842.50 an ounce on Comex, the lowest most-active contract finish since Jan. 5, FactSet data show.
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