Gold falls after comments by Fed officials

Gold prices fell today after the statements of Federal Reserve officials, as the President of the Federal Reserve Bank of St. Louis, James Bullard, said that the Federal Reserve may still need to raise the benchmark interest rate by another half point this year.

The yield on the benchmark 10-year Treasury rose to 3.7091%, compared to Friday’s close of 3.692%, and the yield on the two-year Treasury note rose to 4.3133%, compared to the previous close of 4.289%.

Its spot prices fell by 0.18% to $1972.99 an ounce, and US gold futures fell by 0.22% to $1977.20 an ounce, and the main dollar index, which measures the performance of the US currency against 6 major currencies, rose to 103.21.