On the back of the strong dollar and revenues, gold is on track for its worst quarterly performance since the end of 2016

Gold rose in volatile trading today, but the yellow metal is still heading for the largest quarterly decline since December 2016, with the rise of US Treasury revenues and the dollar undermining the temptation of gold as a safe haven.

And gold increased in the spot market 0.1 percent to 1686.65 dollars an ounce by 0659 GMT, after hitting its lowest level since the eighth of March at 1677.61 dollars earlier in the session.

Gold has fallen nearly 3 percent since the start of the month and 11.1 percent during the quarter.

And gold rose in futures trading in the United States, also 0.1 percent, to 1686.90 dollars an ounce.

The dollar index hit its highest level in nearly five months against its rivals and is on track to record the best month since November 2016.

The US Treasury 10-year yields stabilized near the 14-month peak it reached in the previous session and is heading to rise for the fourth consecutive month.

Higher yields increase the opportunity cost of acquiring gold that does not yield a return.

As for the other precious metals, silver rose 0.5 percent to $ 24.13, while platinum gained 1 percent to $ 1,166.

Palladium also increased 1 percent to $ 2,616.18 and is on track to record its best monthly performance since February 2020.

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