Gold falls

Bengaluru : Gold prices edged down to near their lowest levels this year, pressured by a firm U.S. dollar amid surging U.S. Treasury yields.

Spot gold was down about 0.1 percent at $1,289.35 per ounce at 0657 GMT, after hitting its lowest since December 27 in the previous session at $1,285.41.

The metal was heading for its biggest weekly decline since early December. U.S. gold futures for June delivery were 0.1 percent lower at $1,288.60 per ounce.

The dollar held near a five-month peak against a basket of currencies on Friday thanks to the benchmark U.S. Treasury yield topping a seven-year high.

"The 10-year U.S. yields put the dollar on a firm foot and put pressure on metals and gold," said a Hong Kong-based trader, adding that some "risk-on" sentiment in markets today was also adding pressure.