Gold prices decline as US Treasury yields rise during holiday trading week

Gold prices fell 0.6% to $2,619.33 per ounce as high U.S. Treasury yields reduced its attractiveness. This decline occurred during a quiet holiday trading week, with gold losing 0.1% overall this week. The dollar's strength and rising Treasury yields have pressured gold, which is traditionally seen as a safe investment. U.S. gold futures dropped 0.8% to $2,631.90. Despite the recent drop, gold has risen 28% this year, reaching a record high of $2,790.15 in October. Analysts remain optimistic about gold's future, citing ongoing geopolitical tensions and central bank buying.