Gold prices fell on Wednesday, after the release of inflation data, which has contributed in lifting the US Treasury bond yields and the US dollar against most major currencies.
The US Department of the Treasury revealed today that the budget deficit reached $225.5 billion last month, to a total of $1.9 trillion during the first 7 months of the fiscal year.
Data showed that the US consumer price index rose 0.8% in April, beating forecasts of a rise by 0.2%, and the core reading for the same index (excluding energy and food prices) rose by 0.9% in April, higher than forecasts of 0.3%.
The US Treasury bond yields rose above 1.671% today, which weighs down on stocks and commodity currencies.
The dollar index rose against a basket of major currencies by 0.6% to 90.7 points as of 18:58 GMT, after hitting a high of 90.8 points and a low of 90.1 points.
Gold June futures fell 0.7% or $13.3, and closed at $1,822.8 an ounce.