Gold prices fell after the Federal Reserve Chairman Ye Lun said the need to grad

Spot gold fell more than 1% on Tuesday, after the US Federal Reserve Board (FED / Fed) Chairman Ye Lun said that despite the weak inflation, the Fed still need to continue to raise interest rates.

RBC Wealth Management Managing Director George Gero said that this is not what the market is expected when it comes to Yelun's speech to suppress the price of gold, and we expect an urgent easing in view of the current very large debt levels.

1927 GMT, spot gold fell 1.13% to $ 1,295.28, the US December gold futures fell 0.75 percent to $ 1,301.70.

"US debt yields rebounded slightly, coupled with a stronger dollar to suppress the gold price since yesterday's hedging transactions have eased," HSBC Securities chief metal analyst James Steel said.

The dollar index rose about 0.3%, so that including gold, including dollar-denominated goods for other currency holders are more expensive.

Earlier gold futures rose to a one-week high of $ 1,313.54, continuing the tension in the US and North Korea tensions driven by rising gold prices.