Gold ascends as US Dollar grip loosens, US yields fall

• Gold rises amid US Dollar fluctuations and lower US Treasury yields.
• DXY’s slight increase contests Gold’s ascent, but bond rates boost it.
• Mixed US data: High Durable Goods Orders, lower Consumer Confidence sway sentiment.

Gold price trades in the green but is off the day’s highs of $2,200 reached during the overnight session for North American traders amid a weaker US Dollar. At the opening of Wall Street, the Greenback extended its recovery while a fall in US Treasury yields maintained the yellow metal in the green. At the time of writing, XAU/USD trades at $2,177, up 0.31%.

The US Dollar Index (DXY), which measures the Greenback’s performance against the other six currencies, trades flat at 104.30, a headwind for the non-yielding metal. Nevertheless, the US 10-year benchmark note rate edged down one basis point to 4.243%, boosting the precious metal.