Gold falls as stronger yields, risk appetite dent appeal
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[BENGALURU] Gold prices fell on Monday, dragged by firmer US Treasury yields and improved risk appetite on hopes of peace between Russia and Ukraine.
Spot gold was down 0.4 per cent at US$1,977.14 per ounce by 0045 GMT. US gold futures fell 0.4 per cent to US$1,976.40.
Benchmark US 10-year Treasury yields rose to a near one-month high as the US Federal Reserve is widely expected to raise interest rates by a quarter of a percentage point at a two-day event scheduled to begin from March 16.
Gold is highly sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding bullion.
REUTERS
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