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Gold down on rising U.S. bond yields

Business Materials 31 March 2021 02:17 (UTC +04:00)
Gold down on rising U.S. bond yields

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as U.S. bond yields rose, Trend reports citing Xinhua.

The most active gold contract for June delivery fell 28.6 U.S. dollars, or 1.67 percent, to close at 1,686 dollars per ounce.

A stronger dollar also dampened gold.

Upbeat economic figures released on Tuesday further pushed gold down. The S&P CoreLogic Case-Shiller National Home Price Index rose 11.2 percent in January, up from a 10.4-percent annual rate in the prior month.

The Conference Board reported that its consumer confidence index rose to 109.7 in March, up from 90.4 in February.

Silver for May delivery fell 63.4 cents, or 2.56 percent, to close at 24.137 dollars per ounce. Platinum for July delivery fell 23.5 dollars, or 1.98 percent, to close at 1,160.6 dollars per ounce.

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