Gold struggles for direction after 5-session loss

Gold futures struggled for direction on Tuesday as investors question whether the metal has reached bargain levels after the rise in U.S. Treasury yields contributed to a five-session price decline.

A firming U.S. dollar was causing some consternation though among gold bulls, with the expectation that gains in the currency would make the dollar-pegged yellow metal more expensive to buyers using other currencies.

The dollar was up modestly Tuesday, as gauged by the ICE U.S. Dollar Index DXY, trading around 91, solidly above the index’s 50-day moving average at 90.40.