Gold declines with the rise of the dollar and yields, in light of the anticipation of inflation data
WASHINGTON, June 8 (ONA) – Gold prices fell today as the dollar rose and US Treasury bond yields, with the latest data on inflation awaited before the Federal Reserve meeting this month related to monetary policy.
Spot gold fell 0.1 percent to $1,850.50 an ounce, keeping the move within a relatively narrow range, while US gold futures were little changed to $1,853.40.
Gold needs to break the $1870 barrier to gain some new momentum, said Ole Hansen, analyst at Saxo Bank, adding that developments in both Treasury and dollar yields are not favorable to gold.
Fahad Al Ameri