Gold prices fall marginally as US Treasury yields rise

Gold prices fell marginally today, Jan. 18, as the yield on US 10-year Treasury bonds rose to a two-year high, and the monetary policy development.

Investors' eyes are still heading towards the Federal Reserve's monetary policy meeting, which is scheduled for Jan. 25-26, after bank officials hinted that it might start raising interest rates in March, considering the acceleration of inflation.

Gold futures contracts for February delivery fell 0.24% to reach $1,812.20 per ounce at 12:05pm Makkah time. Spot price for the yellow metal fell 0.36% to reach $1,812.67 per ounce.

Elsewhere, silver futures for March delivery rose 0.1% to reach $22.94 an ounce, spot price for platinum delivery fell 0.80% to reach $968.90, while palladium settled at $1,878 per ounce.

The main dollar index, which measures the performance of the US currency against a basket of six currencies, settled at 95.312 points.