Gold futures finished lower for a second session Wednesday, ending under the key $1,800 mark for the first time this week. U.S. Treasury bond yields have risen to their highest levels in roughly one year, “highlighting that markets appear to be more willing to accept the economic recovery narrative” and putting pressure on prices for gold, said Matt Orton, director and portfolio specialist with Carillon Tower Advisers. Federal Reserve Chairman Jerome Powell has “specifically commented that the recent rise in bond yields is a healthy sign of economic expectations and downplayed inflationary fears from U.S. fiscal policy,” he said. “This optimism on the recovery, coupled with expectations for relatively benign inflation, presents a major headwind to gold.” April gold
fell $8, or 0.4%, to settle at $1,797.90 an ounce.