gold prices slipped again on thursday heading for a third day in the red as rising treasury yields and a stronger us dollar following fitch ratings’ downgrade of the us credit rating put pressure on precious metals   gold prices for december gc00 gcz23 delivery fell by 230 or 01 to 1972 per ounce on comex   silver prices for september si00 siu23 delivery gained 19 cents or 08 to 2369 per ounce   palladium futures for september pa00 pau23 declined by 980 or 08 to 1232 per ounce while platinum for october fell by pl00 plv23 580 or 06 to 924 per ounce gold prices have seen their shine dim slightly this week while the yellow metal is still trading well above its latejune lows of around 1910 per ounce a stronger us dollar and rising treasury yields are threatening to push it even lower fitch ratings’ decision to downgrade the us credit rating from aaa to aa and the treasury department’s plans to issue 1 trillion in debt during the third quarter are stoking anxieties that are pushing bond yields higher on thursday “gold prices are falling as the dollar steals all the safehaven flows that stemmed from the us sovereign downgrade and as treasury yields surge on rising debt sale expectations” said edward moya senior market analyst at oanda in emailed commentary pershing square capital management founder bill ackman added more pressure on the long end of the yield curve by declaring that he’s short 30year treasury bonds rising treasury yields and a stronger us dollar tend to weigh on gold since higher yields allow investors to reap higher returns elsewhere and a stronger dollar makes gold more expensive for buyers in other currencies