Gold is About to Stop a 6-day Series of Losses as US Bond Yields Decline

Gold prices rose on Monday, after suffering losses over six sessions, as falling US Treasury yields boosted the attractiveness of the non-yielding metal.

And gold rose in spot transactions 0.7%to $ 1776.10 an ounce, while US gold futures increased 0.4% to $ 1775.55 an ounce.

The US Treasury yield fell to its lowest level since late February earlier in the session, reducing the opportunity cost of holding non-yielding gold.

At the same time, the dollar stabilized near its multi-month peak reached in the previous session.

Last week, gold recorded its worst weekly performance since March 2020 after the Federal Reserve signaled to tighten monetary policy earlier than expected.

As for other precious metals, platinum earlier recorded its lowest level since January 11 at $ 1019 an ounce, and in the latest trading, it fell 0.2% to $ 1032.46.

Palladium rose 1.3% to $1,497.73 an ounce, while silver advanced 0.5% to $25.92.