Gold Falls on Rising US Interest Rates, Crude Oil Holds Steady

The Osaka Exchange's August 2027 gold futures contract fell by ¥130 to ¥24,228 per gram on the morning of the 28th in Japan. The decline comes after a strong showing the previous day when investors sought refuge from inflation concerns in non-yielding assets like gold.

A weaker yen and stronger dollar drove up gold prices, but selling pressure intensified as long-term interest rates rose in the U.S. bond market. This shift diminished the appeal of gold relative to bonds with higher yields.

The Tokyo Commodity Exchange's crude oil futures, however, saw buying interest following gains in overseas markets. Supply concerns and expectations for demand recovery supported prices.