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Gold inches down on higher U.S. Treasury yields


By Sethuraman N RREUTERS - Gold prices edged down on Wednesday as a surge in U.S. treasury yields and an ongoing rally in equities dented the precious metal's safe-haven appeal.Spot gold was down 0.2 percent at $1,310.16 an ounce by 0708 GMT. It declined 0.6 percent on Tuesday, in its biggest one-day drop in a month.U.S. gold futures were down 0.2 percent at $1,310.80 an ounce on Wednesday. Benchmark U.S. Treasury yields hit a 10-month high on Tuesday after the Bank of Japan tweaked its bond-buying programme.Wall Street's major indexes extend the New Year rally to record levels into a sixth ...

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First Published: Wed, January 10 2018. 13:05 IST