Gold prices fell today, Monday, as rising US Treasury yields pressured demand for gold, before a major meeting of the Federal Reserve (the US central bank) later this week, where the central bank is expected to raise prices interest.

Gold fell in spot transactions 0.3 percent to $ 1890.69 an ounce at 0053 GMT. And gold futures contracts in the United States fell one percent to $ 1893.40.


The Federal Reserve's Federal Open Market Committee is expected to start its two-day meeting on interest rates on May 3 and announce its decision the next day.


It appears that Fed policymakers are ready to announce a series of aggressive rate hikes until at least the summer to counteract rapid inflation and rising labor costs.


The benchmark 10-year US Treasury yields rose on Monday, putting pressure on gold demand.


Gold prices rose 1 percent on Friday after the US dollar fell, but ended April slightly lower due to bets on the US central bank to tighten its policy.


As for other precious metals, silver fell in spot transactions 0.4 percent to $22.66 an ounce, platinum fell 0.2 percent to $929.51 and palladium fell 1.7 percent to $2281.99.