Gold near seven-week low as yields climb

Diminished shine: An employee arranges gold bars at the YLG Bullion International Co headquarters in Bangkok. Gold is heading for its biggest monthly loss since June as more central banks pull back stimulus measures. ― Bloomberg

SINGAPORE: Gold traded near the lowest in almost seven weeks as bond yields rose and the dollar strengthened, with concerns about inflation rippling through markets.

The benchmark 10-year United States yield rose to the highest since June yesterday, damping the appeal of non-interest bearing bullion, while a gauge of the greenback was near the highest since November.