Economy / Markets
Gold slips below $4,300 and Bund yields hover near 15-year highs into the FOMC blackout
Spot gold fell 0.2% to $4,288.49 an ounce in early Asian trade on Tuesday as CME FedWatch priced a 92.4% probability of a 25bp Fed hike at Wednesday's FOMC meeting; the US 10-year Treasury yield held above 5% for the first time since 2023. The dollar index traded around 99.50, supported by safe-haven flows. On Friday 10-year German Bund yields hit a fresh 15-year high of 3.515% before easing to 3.502%, with 10-year UK gilt yields at 5.207%. Investors continue to weigh Middle East oil supply risks against an August US CPI print that came in at 3.4%, well above the Fed's 2% target.