At a three-week low gold, heavy losses for platinum, palladium

LAST UPDATE 21:50

Gold fell on Tuesday, completing four consecutive negative sessions and falling to a three-week low, while at the same time losing the psychological level of $ 1,800.

In particular, the December delivery of gold lost $ 22.50 or 1.2% and closed at $ 1,783.80 per ounce. This is the lowest level since November 3 for the precious metal.

The four-day drop is also the biggest negative streak for the precious metal since April 30.

The losses come amid a rally in bond yields as speculation mounts that the Federal Reserve will need to move more decisively to tackle the rally in inflation. Analysts expect the US Federal Reserve to make at least two rate hikes in 2022 to tame inflation that has skyrocketed for years.

December silver fell 86.6 cents, or 3.6 percent, to $ 23,435 an ounce, while December copper added 2.7 cents, or 0.6 percent, to $ 4.4235 a pound.

As for the rest of the metals, January platinum fell $ 50.90 or about 5% to $ 964.20 per ounce, while palladium December lost $ 100.30 or 5.1% to $ 1,850.30 per ounce.