Gold Prices Dip As US Treasury Yields Rise

Gold prices fell as a steady rise in U.S. Treasury yields weighed on gold's appeal, while investors awaited key U.S. inflation and retail sales data to gauge the health of the economy.

Spot gold fell 0.7 % to $1,731.per ounce, while U.S. gold futures settled down 0.7% at $1,734.25.

Rising yields are still weighing on the precious metal.

U.S. Treasury yields remained slightly higher ahead of key data releases this week, including consumer price inflation on Tuesday.

In India, gold continued to remain firm on the back of a falling rupee. Gold prices were retailing at Rs 43,550 per 10 grams in Bengaluru for 22 karats. The precious metal has seen constant gains since the start of the month of April. Analysts expect the precious metal to rise even further in the coming days.