Gold Declines as Treasury Yields Surge

Gold prices declined on Thursday, for the third consecutive session, amid a rise in treasury yields that reached their highest level in about a year.

The yield on the benchmark 10-year Treasury bond in the United States exceeded the 1.5% psychological level earlier today, reaching 1.515%, which left its toll on safe-haven trading as well as riskier assets such as stocks.

Gold futures for April delivery closed lower by $22.50, or 1.3%, at $1,775.40 per ounce.

Meanwhile, silver futures for May delivery declined by 24 cents, or 0.9%, to close at $27.685 per ounce.