Gold fell for a fourth day to the lowest in almost a month amid a global bond sell-off, paring demand for non-interest bearing precious metals.
Bunds led a drop in sovereign debt Monday as some investors judged yields have declined too far, too quick. The yield on 10-year Treasuries ticked up to 1.65%, the highest in four weeks. It rose eight basis points Monday.
The European Central Bank policy meeting Thursday is widely expected to see a cut to interest rates and a review of all options, including QE. A Federal Reserve session follows next week.
Spot gold as much as -0.8% to $1,486.52/oz, the lowest level since Aug. 13, and trades at $1,489.57 at 10:34am in Singapore. Meanwhile, Spot silver -1% to $17.8370/oz.
Source : Bloomberg