Gold prices (XAU/USD) are under pressure in early European trading, currently hovering around $2,629, marking the first decline in five days. This drop is driven by several factors, including growing concerns that US President-elect Donald Trump's tariff plans could stoke inflation and limit the Federal Reserve's ability to cut interest rates. This expectation has led to a rise in US Treasury bond yields, diverting investor interest away from gold.

Gold Faces Pressure as US Tariff Concerns and Rising Bond Yields Weigh on Prices

Dec 02 2024