CHICAGO, Jan. 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as U.S. Treasury bond yields rose.

       The most active gold contract for February delivery fell 9.80 U.S. dollars, or 0.48 percent, to close at 2,016.00 dollars per ounce.

       The S&P Global reported Wednesday that flash U.S. Manufacturing Purchasing Managers' Index (PMI) improved from 47.9 in December to 50.3 in January, beating analyst consensus of 47.9; U.S. Services PMI increased from 51.4 in December to 52.9 in January, also beating analyst expectation of 51.

       Due to better than expected economic data, investors delayed their expectations for rate cuts by the Federal Reserve, dampening gold.

       Market analysts hold that the Federal Reserve will be less restrictive in 2024, it is just a matter of when.

       U.S. fourth-quarter gross domestic product (GDP) is due out on Thursday; and the Federal Reserve's preferred inflation indicator, U.S. personal consumption expenditures data will come on Friday.

       Silver for March delivery rose 42.70 cents, or 1.90 percent, to close at 22.889 dollars per ounce. Platinum for April delivery rose 9.40 dollars, or 1.04 percent, to close at 914.90 dollars per ounce.

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