For five trading sessions in a row, gold prices are falling amid profit-taking sales.
Gold prices fell, amid a rise in US Treasury yields ahead of the Federal Reserve's monetary policy announcement on Wednesday. It is widely expected that the Federal Reserve will raise the target range for the US interest rate by a quarter of a percentage point when it announces its interest rate decision.
Investors also reacted positively to a report from the US Labor Department showing producer prices rose slightly less than expected in February. Where the Department of Labor said that the producer price index for final demand jumped by 0.8 percent in February, after jumping by an upwardly revised 1.2 percent in January.
However, officials will have to balance curbing high prices without pushing the US economy into recession. A separate report showed manufacturing activity in New York state weakened significantly in early March as orders fell and delivery times lengthened.
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