Gold price (Yellow Metel) extends its upside during the early European trading hours on Friday. The growing concerns about US President Donald Trump’s tariff plans provide some support to the precious metal. Additionally, a decline in US bond yields across the curve contributes to the yellow metal’s upside.
US bond yields
Gold prices fall ahead of Fed meeting
Gold prices: “After a slight recovery at the beginning of the week, the price is falling further today. The main obstacle is the sharp rise in US bond yields, which is increasing the opportunity cost of holding gold. Behind this is the reduction in expectations for Fed interest rate cuts in the coming year.”