Dollar gains weaken the attractiveness of the yellow metal


Gold prices fell, yesterday, Wednesday, heading towards incurring losses for the second session in a row, as gains in the dollar and the recovery of US Treasury bond yields overshadowed the attractiveness of the yellow metal as a safe haven amid concerns about the rapidly spreading delta from the Corona virus.

The spot price of gold fell 0.2% to $1,805.81 an ounce by 08:55 GMT. US gold futures fell 0.3% to $1,805.50.

“Treasury yields are looking a little bit stronger, and (European) stock markets are a bit better bet, which is taking away the luster of gold,” said Michael Hewson, chief market analyst at CMC Markets UK.


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