Gold steady as dollar dip counters higher bond yields

Dollar balanced pressure from rising bond yields, with investors awaiting key interest rate hike decisions from major central banks, which could present a clearer outlook for bullion. Although gold is seen as an inflation hedge, higher interest rates and bond yields raise the opportunity cost of holding bullion, which yields no interest. Spot silver firmed 0.3% to $18.79 per ounce, platinum rose 0.3% to $877.00, and palladium climbed 1.6% to $1,905.50.

from Commodities-Markets-Economic Times
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