Gold falls as US bond yields rise

Gold prices fell somewhat, on Thursday, with the US Treasury bond yields rising, which compensated some of its previous losses, but the precious metal remained close to its one-week highs recorded in the previous session, as the dollar continued its decline.
And the price of gold in spot transactions 0.1 percent to 1823.24 dollars an ounce (an ounce) by 1020 GMT. And the price of gold futures in the United States fell 0.3 percent, recording $ 1822.20.
In the previous session, the price of gold rose to 1827.92 dollars, its highest level since the fifth of January.
Data on Wednesday showed US consumer prices rose in December and the annual increase in inflation reached its highest level in nearly four decades, bolstering expectations that the Federal Reserve will raise interest rates as early as this year, possibly in March.
Gold is considered an inflation hedge, but the metal is highly sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding gold.
In other precious metals markets, the price of silver in spot transactions increased 0.2 percent to $23.15 an ounce, and the platinum price fell 0.3 percent to $974.49 an ounce, and palladium settled at $1910.60.

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