Gold ekes out gain despite rise in Treasury yields

Gold futures eked out a gain Wednesday, shaking off a rise in Treasury yields as U.S. stocks slumped. Gold for August delivery rose 30 cents to close at $1,848.70 an ounce on Comex. The yield on the 10-year Treasury note rose around 10 basis points to 2.94%. Rising yields can be a headwind for gold, raising the opportunity cost of holding nonyielding assets.

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