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Gold is down as the dollar gains and bond yields increase

UNITED STATES (OBSERVATORY) –¬†Gold prices fell on Wednesday as yields on US bonds jumped above the 3 percent level, pushing the dollar to its highest level in more than three months.

By 0759 GMT, spot gold fell 0.5 percent to $ 1323.59 an ounce. The precious metal rallied 0.5 on Tuesday to halt a three-session losing streak.

Gold in US futures fell 0.6 percent to $ 1325.

The dollar index, which tracks the performance of the greenback versus a basket of currencies, rose 0.4 percent to 91,117, its highest level since Jan. 12.

Spot silver fell 0.6 percent to $ 16.61 an ounce.

Platinum fell 0.4 percent to $ 922.40 an ounce.

The palladium fell for a third consecutive session and fell 0.7 percent to $ 967.75 an ounce.