Gold prices fell, heading towards incurring losses for the second consecutive session, as the dollar's gains and the recovery in US Treasury bond yields overshadowed the metal's attractiveness as a safe haven amid Concerns about the fast-spreading mutated Delta from the Corona virus.

The spot price of gold fell 0.2 percent to $1,805.81 an ounce. US gold futures fell 0.3 percent to $1,805.50.

Treasury yields look a little stronger, and (European) stock markets are getting a little stronger," said Michael Hewson, chief market analyst at CMC Markets UK. A slightly better bet, which takes away the luster of the gold.

The US dollar approached its highest levels for the year and bonds continued their rally today, as rapid delta spread, not inflation, became the main concern for investors.

Record US Treasury yields rebounded after hitting their lowest level in more than five months during the previous session.

European stocks rose ahead of the European Central Bank meeting tomorrow, Thursday, which is expected to produce a monetary easing tone.

In other precious metals, silver rose 1.1 percent to $25.17 an ounce, palladium advanced 1.2 percent to $2665.58, and platinum rose 0.7 percent to $1073.21 per ounce.