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Federal Reserve officials see rising yields on long-term U.S. Treasury debt as evidence their tight-money policies are working, but for now at least say they are not triggering alarm bells for the economy.
Spot gold held its ground at $1,852.27 per ounce, as of 0057 GMT. US gold futures gained 0.3% to $1,852.30.
Spot gold held its ground at $1,825.66 per ounce, as of 0046 GMT. US gold futures gained 0.6% to $1,825.00.
While gold is considered as a hedge against inflation and currency debasement amid widespread stimulus, a hawkish move by the Fed would diminish gold's appeal. An eventual interest rate hike would also raise the opportunity cost of holding the non-interest bearing asset