Bond yields pull gold near seven-month low

Gold prices declined on Wednesday after hitting their lowest levels in about seven months, due to pressure from rising U.S. Treasury yields and a strong dollar. The spot price of gold fell by 0.7% to $3,979.41 per ounce, as expectations of U.S. interest rate hikes persisted amid concerns that Middle East tensions might impact inflation. Other precious metals also declined, with silver and platinum both falling.

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