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Gold prices fell on Monday, September 27, due to the rise in US bond yields and the rise of the dollar, while investors awaited statements by policymakers at the US Federal Reserve in search of indications of when to reduce the fiscal stimulus measures taken to mitigate the consequences of the pandemic.
Spot gold was little changed, recording $1,750.51 an ounce by 09:12 GMT, while US gold futures fell 0.1% to $1,750.20.
US 10-year Treasury yields rose to their highest level in nearly three months, reducing the attractiveness of the yellow metal and raising the cost of holding it, as the dollar rose, creating additional pressures.
Gold is a hedge against high inflation that may result from the widespread stimulus and currency depreciation.
