Bengaluru — Gold prices inched up on Tuesday, but stayed near two-week lows as a stronger dollar, rising US treasury yields and receding geopolitical concerns crimped safe-haven demand for the metal. After falling for the three previous sessions, spot gold had edged up 0.1% to $1,325.81/oz by 4.17am GMT. That was not far from a low of $1,321.81 touched on Monday, its weakest since April 6. US gold futures rose 0.3% to $1,327.80/oz. "Gold is going up and down with views on risk-aversion … less risk-aversion is pushing it down. We feel that there could be more downward pressure on gold in the near-term," said John Sharma, an economist with National Australia Bank. "[A strong] dollar makes gold expensive for non-US buyers and rising yields increase the opportunity cost of holding gold, which is another factor lessening gold’s appeal." The dollar rose to more than three-month highs against a basket of currencies as the US 10-year treasury yield climbed towards the psychologically key 3%...
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