By Gina Lee

Investing.com – Gold prices fell on Wednesday morning in Asia, while the U.S dollar retreated marginally.

The price was $1,788.35 at 11:08PM ET (3:08AM GMT) and it had fallen 0.28%. Inflation and lower stimulus have pushed up government bond yields, which has resulted in higher opportunities cost of holding bullion.

Upbeat corporate earnings and eased concerns about high inflation also dented bullion’s safe-haven appeal.

Tech giants Microsoft Corp (NASDAQ) and Alphabet, Google’s owner (NASDAQ) Inc. each exceeded revenue expectations while their equity grew globally.

“Traders see this relatively strong earnings and other companies taking advantage of low interest rates to invest in capital expenditure as positive momentum,” said Michael Ashley Schulman chief investment officer at Running Point Capital.

In October, inflation concerns were countered by optimism about the labor market, which suggested that economic growth was on the rise.

Investors are now awaiting news from (BOJ and (ECB) on Thursday.

The BOJ is set to maintain its massive stimulus program on Thursday and slash this year’s inflation forecast, which signals that it has no intention to follow crisis-mode policies, according to Reuters.

Silver fell 0.8%, to $23.95 an ounce. Platinum dropped 0.7% while palladium was down 0.3%.