Gold Prices Dip As Dollar Rises On Higher U.S. Treasury Yields

Gold prices fell in Asian trading on Wednesday, as the dollar regained ground after U.S. President Donald Trump's decision to pull the United states out of the Iran nuclear deal boosted oil prices and pushed Treasury yields higher.

Raising the risk of conflict in the Middle East, upsetting European allies and casting uncertainty over global oil supplies, Trump said he would reimpose U.S. economic sanctions on Iran that had been lifted under the 2015 agreement.

The dollar rose against the yen as oil prices climbed to a 3-1/2-year high, pushing yields on the benchmark 10-year Treasury note closer to 3 percent.

Spot gold had fallen 0.2 percent to $1,311.44 per ounce by 0346 GMT.

U.S. gold futures for June delivery were about 0.2-percent lower at $1,311.70 per ounce.

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