Gold prices fell on Wednesday under pressure from rising U.S. Treasury yields and a stronger dollar after data showed the Federal Reserve is moving (toward slowing the pace of interest rate cuts this year.
Spot gold fell 0.1 percent to $2,648.16 an ounce. U.S. gold futures fell 0.1 percent to $2,662.30. The dollar strengthened and the record yield on 10-year Treasury bonds hit an eight-month high after the U.S. economy showed strength.
Among other precious metals, spot silver rose 0.3 percent to$30.11 an ounce, platinum fell 0.5 percent to $946.11, and palladium fell 0.2 percent to $923.87.
Source (Al-Arabiya.net Website, Edited)
