Gold falls as U.S. Treasury yields rise

By Xu JingUnreguser
  • World
  • Tuesday, 27 Feb 2024

CHICAGO, Feb. 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as U.S. Treasury yields rose.

The most active gold contract for April delivery fell 10.50 U.S. dollars, or 0.51 percent, to close at 2,038.90 dollars per ounce.

Gold was also under pressure of chart-based technical selling.

The U.S. Commerce Department reported Monday that U.S. new-home sales rose 1.5 percent to an annual rate of 661,000 in January, from a revised 651,000 in the prior month.

U.S. gross domestic product report will be released on Wednesday.

Silver for March delivery fell 45.60 cents, or 1.98 percent, to close at 22.526 dollars per ounce. Platinum for April delivery fell 28.50 dollars, or 3.13 percent, to close at 881.10 dollars per ounce.

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