Gold futures retreat on stronger dollar, higher bond yields

CHICAGO, April 25 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as the U.S. dollar strengthened and bond yields rose further.

The most active gold contract for June delivery went down 10.20 dollars, or 0.77 percent, to settle at 1322.80 U.S. dollars per ounce, the lowest level since mid-January.

The U.S. dollar index, a gauge of the dollar against a basket of other major currencies, rose 0.39 percent to 91.15 as of 1648 GMT.

Gold and the dollar typically move in opposite directions. When the dollar goes up, it will limit the appeal of dollar-priced commodities, such as gold, to investors using other currencies.

The rally of the U.S. dollar was apparently inspired by the benchmark 10-year Treasury yield, which has climbed above the 3-percent level.

As for other precious metals, silver for May delivery fell 20.1 cents, or 1.20 percent, to settle at 16.502 dollars per ounce. Platinum for July went down 22.3 dollars, or 2.39 percent, to close at 912.7 dollars per ounce. Enditem