Gold futures ended lower on Wednesday, pressured by the spiking US Treasury yield notes and firmer dollar rates. Benchmark US 10 year Treasury yields jumped to its highest since April 13, raising the opportunity cost of holding non-yielding bullion. The yellow metal rates were little affected after the Federal Reserve kept its benchmark index unchanged near zero as expected.
Gold futures for June slipped by 0.3% or $ 4.90 to settle at $1,773.90 an ounce on the Comex division of the New York Mercantile. Spot gold rose 0.2% to $1,780.56 per ounce.