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Gold jumps over 2% on retreating U S yields, dollar

Gold surged more than 2% on Tuesday on the back of a retreat in U.S. Treasury yields and a weaker dollar, staging a strong recovery from the nine-month low it hit in the previous session. Spot gold was up 2% to $1,715.40 per ounce by 11:53 a.m. EST (1653 GMT), having slipped on Monday to $1,676.10, its lowest level since June 5. Benchmark U.S. 10-year Treasury yields backed away from more than a one-year high hit last week, while the dollar fell.

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