Gold slips as higher US Treasury yields offset focus on Fed chair Warsh's inflation message

Gold prices fell on Thursday, July 30, as higher US Treasury yields pressured the metal. Spot gold dropped 0.4 per cent to US$4,048.39 per ounce. ANZ analyst Soni Kumari said, "Yields are a byproduct of the rate expectations," as markets assessed Federal Reserve chairman Kevin Warsh’s recent comments on inflation.