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Gold Down, Cooling Ukraine Tensions Negate Support from Weaker Bond Yields.
Gold was down on Wednesday morning in Asia, coming down from an eight-month high hit during a volatile previous session. Easing fears of a Russian invasion of Ukraine negated the support to the yellow metal from weaker bond yields.
Gold futures edged down 0.11% to $1,854.25 by 12:22 AM ET (5:22 AM GMT). They hit their highest level since June 2021 on Tuesday, before changing course to close almost 1% lower. The dollar, which normally moves inversely to gold, inched up on Wednesday while U.S. Treasury yields fell.