Gold rate today, Aug. 20 -- Gold prices declined on Thursday as investors locked in profits after the precious metal surged to a more than two-month high. The rally was triggered by a surprise US Treasury announcement to support liquidity in long-duration bonds, which pressured the dollar and pushed Treasury yields lower.

Spot gold fell 0.7% to $4,487.63 per ounce. On the previous day, bullion touched $4,525.79, its highest level since June 2, after gaining more than 4% on Wednesday. Meanwhile, US gold futures were largely unchanged at $4,545.60.

However, in the domestic market, gold prices on the Multi Commodity Exchange (MCX) edged up slightly to trade at Rs.1,58,300 per 10 grams.

The US Treasury unexpectedly announced on Wednesday t...