Gold Falling as The Dollar And Bond Yields Rise, Supported by Strong US Data

Gold prices retreated on Wednesday from their highest level in nearly five months recorded in the previous session, as the dollar and US Treasury yields rose on the back of strong manufacturing data.

And gold fell in spot transactions 0.2% to $ 1896 an ounce during the session, after hitting its highest level since the eighth of January, at $ 1916, on Tuesday.

US gold futures fell 0.3% to $1,899.

The dollar index rose on the back of data showing a recovery last month in US manufacturing activity.

Ten-year US Treasury yields maintained their gains, increasing the opportunity cost of holding non-yielding gold.

As for other precious metals, palladium fell 0.8% to $ 2838 an ounce, silver fell 0.8% to more than $27, and platinum fell 0.8% to 1182