Gold prices drop over 2%, slide to 2-month low as Treasury yields, US dollar climb

What happened: Spot gold fell 2.3% to an intraday low of $4,066 per ounce on Wednesday, its lowest level since August 5, pressured by rising Treasury yields and a stronger US dollar. Key numbers: Spot gold down 2.3% to $4,066 per ounce. US dollar index up 0.5%. 10-year Treasury yield around 5.282%, earlier 5.35%, highest since 2002. 30-year yield at 5.655%. Why it matters: Higher interest rates diminish the appeal of non-yielding gold. Fed officials said curbing inflation may require further rate hikes, and investors await the FOMC minutes for policy insight.

Gold falls 2% to 2-month low as Treasury yields and dollar climb.

Gold falls 2% to 2-month low as Treasury yields and dollar climb. — impact context not separately stored; see What changed.