Gold is dropping under pressure from rising US bond yields

Gold prices fell today, Monday, under pressure from rising US Treasury yields, while investors await important data on inflation and retail sales in the United States this week, to guide the strength of the world's largest economy.

Gold fell in the spot market 0.6 percent to $ 1732.90 an ounce by 1450 GMT.

And gold fell in futures trading in the United States 0.68 percent to 1733 dollars an ounce.

"The stronger than expected data indicates that inflation (will) rise faster than expected in the coming months, which led to an increase in real returns, pressing on gold," said Margaret Yang, an expert at the Daily Fix.

Some investors consider gold as a hedge against rising inflation, but the increase in US Treasury yields has diminished the attractiveness of the yellow metal, which does not yield any returns.

Among other precious metals, silver fell 1.75 percent to $ 24.80 an ounce, palladium lost 0.27 percent to $ 2646.20, and platinum fell 2.1 to $ 1173.10.

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