Gold slips from one-week high as US dollar strengthens

Gold: Gold is a globally traded precious metal and dollar-denominated commodity that is often viewed as a store of value and a non-yielding asset. In the reported development, gold retreated from a recent one-week high because a firmer US dollar made bullion more expensive for buyers using other currencies, while investors continued assessing the Federal Reserve’s interest-rate outlook. Treasury yields: Higher US Treasury yields have recently added pressure to gold, while easing yields and a softer dollar supported bullion during the prior rebound. Dollar sensitivity: A stronger US dollar generally pressures gold because bullion priced in dollars becomes more expensive for holders of other currencies. Federal Reserve outlook: Recent gold trading has also been shaped by changing expectations for further Federal Reserve rate increases, which affect the opportunity cost of holding a non-yielding asset.