Implied yields were already reflecting an about-face in the direction of short-term monetary policy before some profit-taking set in for Aussie bills.

FORBES: Treasuries Dealers Wag Fingers at S&P, Yields Slip

Some profit-taking pressure set in after recent gains, and then some upbeat comments from President Obama regarding the U.S. debt-limit impasse did work to pressure the precious metals.

FORBES: Comex Gold Backs Off on Profit-Taking, Possible U.S. Debt Deal