Gold falls for first day in 5 as US bonds rebound

Gold prices fell on Thursday, for the first time in 5 days, and pulled back from a 1-week high due to profit-taking, while the US T-bond yields rebounded ahead of the US producer prices data.

Gold prices fell 0.4% to $1,819.07 an ounce, after opening at $1,825.89, and hit a day high at $1,828.03.

Gold gained 0.3% yesterday, the fourth daily gain in a row, and hit a 1-week high at $1,828.05.

These gains came due to the US dollar's drop against a basket of major and minor currencies, as inflation spikes in the US to 1982 highs.

The US 10-year Treasury yield rose 1.5% today, snapping the 3-day losing streak, ahead of key data in the US on producer prices during December.

Gold stocks at the SPDR ETF remained unchanged yesterday, with the total at the lowest since December 28 at 976.21 metric tonnes.