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Metals Stocks: Gold treads water as yields and the dollar outweigh slide in global stocks

Gold prices edged lower early Thursday in New York, with bullion under pressure from a one-two punch of rising U.S. government debt yields and a strengthening dollar.

December gold GCZ8, +0.56% shed 50 cents, or less than 0.1%, to $1,202.50 an ounce, after declining by 0.3% from a two-week high put in earlier in week. Still, the metal is poised to gain 0.5% this week, according to FactSet data, based on the most-active contracts.

Because precious metals — usually used as a haven by investors — don’t offer a yield, the commodity is vulnerable to a slump in a rising rate environment.

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