Gold prices fell on Tuesday, following a rise in the dollar and US bond yields offset support for the precious metal on fears of high inflation, and appeared to be on track for a monthly decline for the second month in a row.
Spot gold fell 0.4% to $1,848.60 an ounce at 10:25 GMT, and was down 2.5% during the month, its biggest decline since September. US futures fell 0.2% to $1,852.70 an ounce.
The dollar index rose 0.2%, and US 10-year bond yields jumped, prompting markets to reduce expectations that the Federal Reserve will take a breather following raising rates once more in June and July.
As for other precious metals, spot silver fell 0.7% to $21.79 an ounce, platinum rose 0.3% to $961.36, and palladium rose 1.5 percent to $2,062.81 but fell by 11% so far this month, recording the biggest drop since November.
