Gold prices fell overnight and remain under pressure in Asia-Pacific trading amid rising global bond yields. The benchmark US 10-year note’s yield rose to its highest level since January 09, 2020, as traders priced in an aggressive Fed rate hike outlook. Markets are now pricing in four rate hikes this year, with overnight interest swaps showing a possible 50 basis point hike in March. The Federal Reserve’s January rate decision will cross the wires next week when rate traders will key in for the latest clues on the Fed’s path.
