Gold Falls to Its Lowest Level in More Than 8 Months Due

Gold prices fell to their lowest level in 8 and a half months Tuesday, March 2, as the rise of the dollar and US Treasury bond yields undermined investors’ appetite for the yellow metal that does not yield a return.

Gold fell in the spot market 0.3% to $ 1717.99 an ounce, after tumbling to its lowest level since June 15 at $1706.70 earlier in the session. And gold in US futures fell 0.4% to $1716.10.

The yields of US Treasury bonds have fallen from its highest level in a year, which it reached last week, but remain high, while the dollar index has stabilized near a four-week peak.

As for the other precious metals, silver fell 1.2% to $26.15 an ounce, and earlier it fell to its lowest level in more than a month.

Palladium lost 0.1% to $2,346.67, and platinum lost 0.9% to $1174.50