Gold Falls as Dollar Rise

Gold fell on Wednesday, March 10, after recording its biggest jump in two months in the previous session, as US Treasury yields and the dollar rose, weakening the yellow metal’s appeal.

Gold fell in the spot market 0.2% to $1712.82 an ounce after it rose more than 2% on Tuesday as a result of falling bond yields and the dollar from their highest levels in months. And gold in futures trading in the United States fell 0.4% to $1710.70.

US bond yields recovered on Wednesday, reducing the temptation to hold gold as the dollar rebounded.

As for the other precious metals, silver fell 0.6% to $25.75 an ounce, while palladium rose 0.4% to $2,305.16, while platinum fell 1% to $1157.29.