NUGT - Gold slips to seven-week low as Treasury yields climb

Gold futures sank to their lowest settlement in seven weeks, succumbing to a rise in the 10-year Treasury note yield to above 1.5% and a stronger U.S. dollar. December Comex gold (XAUUSD:CUR) closed -0.8% at $1,737.50/oz., with the most-active contract at the lowest settlement since August 10. ETFs: GLD, GDX, GDXJ, NUGT Gold is finding little support from weakness in the stock market, Kitco.com's Jim Wyckoff tells MarketWatch, as "the safe-haven metals bulls are once again frustrated that risk-off attitudes in the marketplace... are not providing any price support to their markets." "The dot plots set by FOMC members signaling an earlier than previously expected rise in Fed fund rates, and the move higher across the yield curve continue to have a negative impact on gold," Bart Melek, head of commodity strategies at TD Securities, tells Reuters. But gold is holding up reasonably well in light of yield and dollar

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Gold slips to seven-week low as Treasury yields climb