London (Archyde.com)
Gold prices fell today, Wednesday, following the dollar and the yield on US Treasury bonds increased to the highest level in several years, following statements regarding tightening monetary policy from Federal Reserve officials (the US Central Bank), and with traders remaining cautious in anticipation of the announcement of the details of the latest meeting of the US Federal Reserve. By 0612 GMT, gold fell in spot transactions 0.3 percent to $ 1918.74 an ounce. US futures fell 0.2 percent to $1,923.10 an ounce.
The yield on US Treasuries rose to the highest level in years.
And gold is very sensitive to raising US interest rates, and the high yield on Treasury bonds, which increases the opportunity cost of holding the precious metal, which does not generate interest.
As for other precious currencies, silver fell 0.3 percent to $ 24.25 an ounce. Platinum fell 0.4 percent to $964.19 an ounce. Palladium rose 0.2 percent to $2,242.04 an ounce.
