Gold prices record their lowest levels in 7 months
Capitals, 1st July / WAM / Gold prices fell today, Wednesday, after recording their lowest level in seven months during the previous session, under pressure from rising US Treasury bond yields, amid growing concerns about inflation and raising interest rates.
The price of gold in spot transactions fell 0.7% to $3,979.41 per ounce as of 03:00 GMT.
The price of the precious metal fell in the previous session to $3,942.99 per ounce, its lowest level since last November.
US gold futures for August delivery fell 1.1% to $3,992.70 today.
Yesterday, gold recorded its largest quarterly decline since 2013, and fell for the fourth month in a row in June.
The dollar rose, making gold priced in the US currency more expensive for holders of other currencies, and yields on standard US 10-year Treasury bonds also rose.
As for other precious metals, the price of silver in spot transactions fell 1.4% to $57.75 per ounce, the price of platinum fell 0.6% to $1542, after recording its lowest level since last November, and the price of palladium fell 0.4% to $1199.34.
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