Gold is about to post a monthly loss

Gold prices fell on Tuesday after rising dollar and US bond yields offset support for the precious metal on rising inflation fears and appeared to be on track for a second consecutive monthly decline.

Spot gold fell 0.4 percent to $1,848.60 an ounce at 1025 GMT, and was down 2.5 percent during the month, its biggest decline since September. US futures fell 0.2 percent to $1,852.70 an ounce.

The dollar index rose 0.2 percent and US 10-year bond yields jumped, prompting markets to reduce expectations that the Federal Reserve would take a breather after raising rates again in June and July.

As for other precious metals, spot silver fell 0.7 percent to $21.79 an ounce, platinum rose 0.3 percent to $961.36, and palladium rose 1.5 percent to $2,062.81, but it fell 11 percent so far this month, recording the biggest decline since November.