Gold fell on Friday as US Treasury yields climbed from near a three-month low and the US dollar strengthened. The metal erased some short-lived gains that were made in the wake of a US inflation report.
Thursday’s US report on the consumer price index (CPI) showed that price increases were largely driven by categories associated with economic reopenings, bolstering the view that inflation pressures might ease later in the year.
With the US Federal Reserve setting a high bar for reconsidering its dovish stance, the data ended up stoking risk appetite across global markets — pressuring demand for bullion as a