Gold prices fell during trading on Wednesday, coinciding with the rise in US Treasury yields to their highest level in two years.
The yellow metal prices headed to its lowest level in a week, which it reached in the previous session, while the US Treasury yields rose due to expectations that the Federal Reserve would raise interest rates significantly.< /p>
Traders are awaiting the Federal Reserve's meeting on January 25 and 26, and expect a more aggressive approach to confronting persistent inflation, which is the highest in nearly 40 years at 7%, according to CNN. NBC Arabia.
The price of the yellow metal fell in spot transactions today by 0.2% to $ 1810.90 an ounce, after falling to its lowest level in a week at $ 1805 an ounce on Tuesday. US gold futures fell 0.1% to $ 1810.80.
For other precious metals, spot silver fell 0.2% to $23.41 an ounce, platinum fell 0.8% to $973.64, and palladium fell 0.4% to $1,889.46 .
