gold futures settled with a loss on wednesday as a rise in us treasury yields and strength in the dollar prompted prices to give back most of their gain from a day earlier the precious metal is influenced by bond yields and any messaging on interest rates and the attempt to rein in inflation from the federal reserve said jeff wright chief investment officer at wolfpack capital adding that the us dollar has also been impacted by the fed and interest rates the producer price index reading coming in higher than expected due to services rather than durables was not a good sign for the consumer price index data due out thursday he said wright said he does not see the fed raising rates prior to the november meeting but could accelerate quantitative tightening measures to move interest rates higher in the interim gold for december delivery gcz22 fell 850 or 05 to settle at 167750 an ounce on comex