April 28 (Reuters) - Gold prices fell on Wednesday, pulled
down by firmer U.S. Treasury yields with investors looking out
for policy cues from the Federal Reserve's meeting, while
palladium eased after hitting a record peak in the previous
session.
FUNDAMENTALS
* Spot gold XAU= was down 0.5% at $1,767.76 per ounce by
0131 GMT. U.S. gold futures GCv1 were down 0.5% at $1,770.00
per ounce.
* Palladium XPD= fell 0.6% to $2,924.12 per ounce, after
hitting an all-time high of $2,962.50 on Tuesday.
* Benchmark U.S. 10-year Treasury yields US10YT=RR rose to
their highest since April 15, increasing the opportunity cost of
holding non-yielding bullion. US/
* The dollar index .DXY rose 0.1% against its rivals,
making gold less appealing for other currency holders. USD/
* Market participants awaited the U.S. Fed's statement due
later in the day, for cues on the central bank's monetary
policy. * Japanese retail sales rose at the fastest pace in five
months in March as consumer demand recovered from the huge hit
it took from the COVID-19 pandemic last year. * U.S. consumer confidence jumped to a 14-month high in
April as increased vaccinations against COVID-19 and additional
fiscal stimulus allowed for more services businesses to reopen,
boosting demand and hiring by companies. * Analysts and traders have slashed their gold price
forecasts, with many believing a return to last year's record
highs is unlikely as economic recovery tarnishes the safe-haven
metal's appeal, a Reuters poll showed on Tuesday. * Senior U.S. officials on Tuesday pledged sustained support
for India in helping it deal with the world's worst current
surge of COVID-19 infections. * Silver XAG= fell 0.9% to $26.00 per ounce. Platinum
XPT= was down 1% at $1,216.75.
DATA/EVENTS (GMT)
0600 Germany GfK Consumer Sentiment May
0645 France Consumer Confidence April
1800 US Federal Open Market Committee announces its
interest rate decision followed by statement