Gold falls as U.S. treasury yields rise

By Xu JingUnreguser

CHICAGO, March 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as U.S. Treasury bond yields rose.

The most active gold contract for April delivery fell 30 U.S. dollars, or 1.51 percent, to close at 1,953.80 dollars per ounce.

Easing of banking-system fears further dampened gold, as First Citizens BancShares, a bank holding company based in North Carolina, will acquire the troubled Silicon Valley Bank from the Federal Deposit Insurance Corporation. First Citizens' stock price jumped by 22 percent as of the gold market's close on Monday.

Silver for May delivery fell 19.40 cents, or 0.83 percent, to close at 23.145 dollars per ounce. Platinum for April delivery fell 6.80 dollars, or 0.69 percent, to close at 977.10 dollars per ounce.

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