Gold Prices Fall for Second Day

Gold prices declined on Wednesday for the second consecutive session, losing the important $1,800 support level.

The decline in the yellow metal prices came amid a continuous rise in the U.S. Treasury bond yields that reached their highest level in about a year.

Gold futures for April delivery declined by $8, or 0.4%, to close at the level of $1,797.90 per ounce.

Earlier today, Goldman Sachs lowered its forecast for gold prices, due to the rising real interest rates and treasury yields affecting the yellow metal.

However, Goldman still expects a rise in gold prices, setting a new target price at $2,000 per ounce, compared with its previous expectations at $2,300 an ounce.

The expectations for a rise in gold prices come amid a decline in the U.S. Dollar (USD).