US gold futures fell 0.3 percent to $1,631.60.
Ilya Spivak, a currency strategist at DailyFX, said: "There are expectations of higher interest rates…a strong US dollar and higher real interest rates…None of that bodes well for gold.".
rise dollar index to a new peak in 20 years, making gold priced in the US currency more expensive for buyers of other currencies.
Revenues increased US Treasuries Ten years to four percent for the first time since 2010.
Chicago Federal Reserve Chairman Charles Evans, his St. Louis counterpart James Bullard, and Neil Kashkari in Minneapolis reiterated the US central bank’s pledge to focus on tackling high inflation.
Evans said the Fed would need to raise interest rates to a range of 4.50 percent to 4.75 percent.
Gold is considered a hedge once morest inflation and economic uncertainty, but raising interest rates has reduced the attractiveness of the non-yielding yellow metal and pushed the dollar to its highest levels in several years.
As for other precious metals, silver fell in spot transactions to its lowest level in three weeks, and recorded in the latest trading, a decline of 1.4 percent to $ 18.17 an ounce.
Platinum fell 0.7 percent to $842.52 following hitting its lowest level since Sept. 5.
Palladium fell 1.2 percent to $2,061.31.
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By 0404 GMT, he went down gold In spot transactions, 0.3 percent to $ 1624.12 an ounce, close to the lowest level in two and a half years of $ 1620.20 touched earlier in the week.
US gold futures fell 0.3 percent to $1,631.60.
“There are expectations of higher interest rates…a strong US dollar and higher real interest rates…None of that bodes well for gold,” said Ilya Spivak, a currency strategist at DailyFX.
rise dollar index to a new peak in 20 years, making gold priced in the US currency more expensive for buyers of other currencies.
Revenues increased US Treasuries Ten years to four percent for the first time since 2010.
Chicago Federal Reserve Chairman Charles Evans, his St. Louis counterpart James Bullard, and Neil Kashkari in Minneapolis reiterated the US central bank’s pledge to focus on tackling high inflation.
Evans said the Fed would need to raise interest rates to a range of 4.50 percent to 4.75 percent.
Gold is considered a hedge once morest inflation and economic uncertainty, but raising interest rates has reduced the attractiveness of the non-yielding yellow metal and pushed the dollar to its highest levels in several years.
As for other precious metals, silver fell in spot transactions to its lowest level in three weeks, and recorded in the latest trading, a decline of 1.4 percent to $ 18.17 an ounce.
Platinum fell 0.7 percent to $842.52 following hitting its lowest level since Sept. 5.
Palladium fell 1.2 percent to $2,061.31.
