Gold Flat as Treasury Yields Rise to Multiyear Highs

Gold prices in the early Asian trading are flat as U.S. Treasury rates surge to multi-year highs following a recent bond saleoff. Analysts at ANZ say that investors are adjusting their expectations to the fact that the Federal Reserve will not ease policy in the coming year. ANZ says that the renewed strength of the U.S. Dollar is also a headwind and reduces the appeal for precious metals. Investors will be watching the U.S. PCE Index, the Fed’s preferred inflation indicator, which is due to release later this week. This index will help them gauge the Fed’s next move. Gold spot is unchanged at $1,900.04/oz. (EMAIL).