Gold continued its losses for a second session on Thursday, with damage to the investment attractiveness of rising bond yields and uncertainty surrounding the date of raising US interest rates.
The price of gold fell 0.7 percent in the spot transactions to $ 1183.95 for an ounce in late trading in the US markets to remain below $ 1,200 barrier for the fifth consecutive day.
It fell US gold futures for June delivery in June of $ 8.10 to a record settlement of $ 1182.20 when an ounce.
Boyle said Georgette son AMRO Bank analyst said the recent rise in bond yields is “dominant in the biggest factor on the double gold at the moment.”
And gold is trading in a relatively narrow range of about $ 80 since mid-February compared to the scope amounted to about $ 150 in January.
And increasing bond yields in Europe and the United States with the decline of deflation fears due to the recovery of oil prices and anticipation of an increase in US interest rates later this year.
And because gold does not generate interest for Haisais the high US bond yields and in the other Alasouk is considered a negative factor for the yellow metal.
The record German government bond yields for 10-year-its highest level since the beginning of the year on Wednesday, while the yield rose US Treasury bonds for ten years to the highest level in five months on Thursday, but fell in late in the session.
Traders said the dollar’s strength will help to keep the pressure on gold prices.
Among other precious metals fell in the spot price of silver transactions 1.3 percent to 16.31 dollars an ounce, while platinum fell 1.1 percent to $ 1130 an ounce and palladium fell 1.3 percent to $ 778 an ounce