XAU/USD retreats from recent highs near $4,700 amid a correction after US Treasury yields decline.
Gold prices fell 0.4% to $4,630 during European trading on Tuesday, paring earlier gains after failing to sustain a rally above $4,700. The decline coincides with a sharp drop in US Treasury yields, which typically reduces the opportunity cost of holding non-yielding assets like gold.
The precious metal had climbed in recent sessions but faced resistance near $4,700, prompting a pullback. Market participants are monitoring yield movements and macroeconomic data for further direction.
No immediate market reaction was specified, though gold remains sensitive to shifts in US monetary policy expectations and bond market dynamics.