China’s Ministry of Finance said Wednesday it will sell 28 billion yuan (4.12 billion U.S. dollars) of 20-year book-entry treasury bonds from Thursday.

The bonds will have a fixed annual interest rate of 3.82 percent, the ministry said in a statement on its website.

Interest will be paid on the bonds every half year

The bonds will be sold to the public from Sept. 2 to Sept. 6 and become tradable on Sept. 8 through the national inter-bank bond market and over the counter at designated commercial banks.

The bonds will be the second of their kind issued in 2010. The ministry sold the previous batch in April at a yield of 3.96 percent.

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Gold futures on the COMEX Division of the New York Mercantile Exchange fell below its fresh 2-month high and ended moderately lower on Wednesday, as a series of stronger-than-expected economic data improved investors’ overall macro-economic outlook and dulled the metal’s allure as a safe- haven. Silver edged lower, but platinum inched up.

The most active gold contract for December delivery lost 2.2 U. S. dollars or 0.2 percent, to finish at 1,248.1 dollars per ounce.

Gold surged earlier Wednesday and touched 1,256.6 dollar per ounce, the highest intraday price since June 28, after a report released by ADP Employer Service showed the private-sector jobs in the U.S. unexpectedly dropped by 10,000 in August, and U.S. construction spending in July plunged to its lowest rate in 10 years, according to U.S. Commerce Department.

But a chain of upbeat economic data took the steam out of gold’ s rally earlier in the morning. A stronger-than-expected ISM reading, combined with strong manufacturing data from China, and a better-than-expected economic growth in Australia have triggered the evaporation of bearish sentiment in the market, and in turn dulled the safe-haven shine of the precious metal.

Meanwhile, the sharp rally in the U.S. equity markets also helped to aggravate the decline in gold, as investors who have regained their risk appetite sold off gold to take profits and speculated in stocks.

December silver dipped 3.9 cents, or 0.2 percent, to 19.393 dollars per ounce. October platinum added 12.2 dollars, or 0.8 percent, to 1,535.7 dollars per ounce.

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The International Monetary Fund (IMF) on Wednesday called on developed countries to pursue long- term policy reforms to trim public debt.

“In order to protect the fragile economic recovery, support growth and job creation and provide reassurance to capital markets, fiscal adjustment plans must be clearly defined — but with a focus on the medium term rather than seeking a quick fix,” the IMF said in a research paper.

“Public debt levels among advanced economies have reached levels not seen before in the absence of a major war,” said Carlo Cottarelli, Director of the IMF’s Fiscal Affairs Department.

General government debt in the G20 advanced economies surged from 78 percent of gross domestic product (GDP) in 2007 to 97 percent of GDP in 2009 and is projected to rise to 115 percent of GDP in 2015, according to the IMF.

Public debt in many developed countries has ballooned during the financial crisis and economic downturn.

“High public debt is due not only to the financial crisis, but also to weak fiscal policy over the preceding decades, when debt levels ratcheted up during hard times but failed to fall in better years,” said Cottarelli.

“The task ahead is all the more complicated because aging societies and global warming are putting additional pressure on public finances. This calls attention to the critical need for long-term fiscal reforms that will guarantee a gradual but sustained improvement in debt positions over the coming decades,” he added.

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