Gold prices are under pressure

Gold prices fell today, Wednesday, to fall to the sixth session in seven sessions, as the yellow metal, which does not yield a return, has been under pressure due to expectations that US Treasury revenues will rise thanks to more economic stimulus.

Spot gold fell 0.3 percent to $ 1732.51 an ounce by 0645 GMT, after falling to its lowest level since June 15 at $ 1706.70 on Tuesday, and US gold futures fell 0.3 percent to $ 1728.90.

Investors are closely following the progress of a $ 1.9 trillion US stimulus bill ahead of a Senate debate on the legislation this week.

The yields of record US Treasury bonds were stable near 1.4 percent, despite their decline from a one-year high reached last week.

While gold is considered a hedge in the face of inflation, the recent increase in returns has threatened that situation, as it increases the opportunity cost of owning the yellow metal that does not generate a return.

Federal Reserve officials (the US Central Bank) will keep their plans to ease monetary policy as it is in the face of a potential spurt of inflation this spring in an economy receiving support from coronavirus vaccines and government spending.

As for the other precious metals, silver fell 0.5 percent to $ 26.62 an ounce, while palladium rose 0.5 percent to $ 2,372.98.

Platinum fell 0.3% to $ 1201.49.

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