Gold falls as US yields climb

Gold prices declined today, Wednesday, after reaching their lowest levels in seven months, due to rising U.S. Treasury yields and a strengthening dollar, which increased pressure on the precious metal. The spot price of gold fell by 0.7% to $3,979.41 per ounce, while futures contracts also decreased by the same percentage to $3,992.70 per ounce. This comes amid ongoing expectations of an interest rate hike by the U.S. Federal Reserve and with employment data awaited to determine the trajectory of gold prices in the coming period.

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