Gold prices fell today, Wednesday, for the sixth session in 7 sessions, as the precious metal is under pressure due to expectations that US Treasury revenues will rise thanks to more economic stimulus..
And gold fell in immediate transactions 0.3 percent to 1732.51 dollars an ounce, by 06:45 GMT, after it fell to its lowest level since June 15 at 1706.70 dollars on Tuesday. And US gold futures fell 0.3 percent to $ 1728.90 an ounce.
Investors are closely following the progress of a $ 1.9 trillion US stimulus bill, ahead of a Senate debate on the legislation this week..
The yield on record US Treasury bonds stabilized near 1.4 percent despite their decline from a year-long high reached last week..
While gold is considered a hedge in the face of inflation, the recent high returns have threatened that situation, as it increases the opportunity cost of owning the yellow metal, which does not generate a return.