Gold prices fall as the dollar and bond yields rise ahead of the US inflation data

Gold prices fell on Thursday after rising dollar and rising US bond yields impacted demand to buy the precious metal. in view of the release of US inflation data, which could increase the chances of a tightening of monetary policy by the Federal Reserve.

And the price of gold on spot transactions fell 0.6%, to $ 1842.77 an ounce (one ounce) by 14:38 GMT, while US gold futures fell 0.7 %, at $ 1,843.90, according to Reuters.

And US Treasury yields have risen for ten years, which has reduced the attractiveness of the yellow metal, which does not yield, and the dollar has risen, reducing the attractiveness of gold to holders of other currencies.

Investors also await monthly US consumer price data on Friday.

A Reuters poll showed that the leading consumer price index in the US is expected to rise 5.9% year-on-year, after rising 6.2% year-on-year in April.

Expected inflation data should give an indication of whether the Federal Reserve will maintain its tight monetary policy in the second half of the year.

As for other precious metals, silver fell 1.8% in spot transactions to $ 21.63 an ounce, while platinum fell 2.7% to $ 978.37.

And palladium fell 0.9% to $ 1,925.72.

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