Gold falls on higher U.S. treasury yields

By Xu JingUnreguser

CHICAGO, Aug. 16 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as U.S. treasury yields rose.

The most active gold contract for December delivery fell 8.4 U.S. dollars, or 0.47 percent, to close at 1,789.7 dollars per ounce.

Economic data released Tuesday were mixed. The U.S. Commerce Department reported that construction on new U.S. homes fell a seasonally adjusted 9.6 percent in July to 1.45 million, while building permits for new homes fell 1.3 percent to 1.67 million in July.

The Federal Reserve reported Tuesday that the U.S. industrial production index rose 0.6 percent in July, higher than market expectations for a 0.3-percent increase.

Silver for September delivery fell 18.7 cents, or 0.92 percent, to close at 20.085 dollars per ounce. Platinum for October delivery fell 2.3 dollars, or 0.25 percent, to close at 931.3 dollars per ounce.

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