Gold prices eased slightly on Tuesday, pausing a run that had landed the precious metal at five-month highs, as a still-weak dollar clawed up from recent sharper lows.
Treasury yields TMUBMUSD10Y, -1.43% turned higher after falling to their lowest since November, dulling some demand for nonyielding gold. But stocks,which typically move opposite of gold, were expected to open lower.
Gold remained lower even as U.S. housing data disappointed, which could spur some murmurs that the Federal Reserve won’t be as aggressive with interest-rate hikes this year as some expected. Higher rates typically pressure gold prices and gold’s upside has been limited somewhat by the climate for higher U.S. rates.