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Gold Falls as Dollar, Bond Yields Rise

Gold prices fell Wednesday as a result of the rise in the dollar and US bond yields, while investors assess the path of US interest rates after the consumer price report showed that inflation remains high.

Gold in the spot market fell 0.1 percent to $1901.24 an ounce, after falling briefly below the $1900 level. US gold futures lost 0.3 percent, recording $1905.30.

The dollar index rose 0.1 percent, which makes the precious metal more expensive for holders of other currencies.

The yield on the US benchmark ten-year Treasury yield also increased.

Silver in the spot market fell 0.1% to $21.67 an ounce, while platinum fell 0.1% to $981.69, and palladium fell 0.7% to $1496.61.

Source: Qatar News Agency

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