KONTAN.CO.ID - JAKARTA. Gold prices fell 1% on Thursday as U.S. treasury yields remained elevated, with bullion's safe haven appeal also hit by bets for a faster global economic recovery. Spot gold fell 0.9% to $1,788.56 per ounce at 1306 GMT, after falling as much as 1% earlier in the session. U.S. gold futures eased 0.6% to $1,786.90 per ounce. "Rising Treasury yields on a better economic outlook in the second half of the year is putting pressure on the metal," Bank of China International analyst Xiao Fu said.
Gold falls 1% as elevated U.S. yields hit safe haven appeal
KONTAN.CO.ID - JAKARTA. Gold prices fell 1% on Thursday as U.S. treasury yields remained elevated, with bullion's safe haven appeal also hit by bets for a faster global economic recovery. Spot gold fell 0.9% to $1,788.56 per ounce at 1306 GMT, after falling as much as 1% earlier in the session. U.S. gold futures eased 0.6% to $1,786.90 per ounce. "Rising Treasury yields on a better economic outlook in the second half of the year is putting pressure on the metal," Bank of China International analyst Xiao Fu said.