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Business

Gold Steadies Above $1,650 as Safe Haven Appeal Creeps Back in

Gold prices steadied above a major support level on Monday as growing risks of an economic recession spurred some safe-haven demand for the yellow metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop. Spot rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce …

Business

10-year yields highest since 2011 before expected Fed rate hike

Benchmark 10-year U.S. Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the likelihood that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs. Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst of rising price pressures …