As US bond yields edge higher, gold prices in the Asian session opened slightly lower.

In early trading in the Asian market, as US bond yields edged slightly higher, the price of gold fell slightly, which usually weakens the attraction of this non-yielding asset. Sherilyn Chew from DBS Group's research department commented, "The performance of gold is expected to depend mainly on the trend of yields, and in the absence of a clear interest rate cut, this may limit the substantial upside in the near term." The multi-asset strategist added, "ETF holdings and speculative positions are relatively light, and with skepticism about the recent upside potential, investors are mostly in a wait-and-see mode." Spot gold fell 0.1% to $1,538.27 per ounce.