Sana’a: Gold prices were stable on Tuesday as investors factored in the US Federal Reserve’s significant interest rate cut, while awaiting signals that the central bank might adopt a slower-than-expected monetary easing cycle at its two-day meeting beginning later today.
According to Yemen News Agency, spot gold was trading at $4,186.99 per ounce. US gold futures for December delivery fell 0.1% to $4,215.80 per ounce.
The yield on the benchmark 10-year US Treasury note reached its highest level in two and a half months on Monday. A rise in US Treasury yields increases the opportunity cost of holding non-yielding assets such as gold.