The Rise of The Dollar Affects The Luster of Gold

Gold prices fell on Wednesday in thin trading as the dollar rose and US Treasury yields stabilized after falling earlier in the session, but prices remained above the key level of $1800 an ounce.

And the price of gold in spot transactions fell 0.2 percent to $ 1802.67 an ounce (an ounce) by 0821 GMT, and US gold futures fell 0.4 percent to $ 1803.

A higher dollar makes gold more expensive for holders of other currencies.

Ten-year US Treasury yields are flat and higher yields increase the opportunity cost of holding non-yielding gold.

As for other precious metals, silver rose in spot transactions 0.5 percent to $23.11 an ounce, and platinum fell 0.8 percent to $968.50.

And palladium fell 0.3 percent to 1983.68 dollars an ounce.