Gold Registers Worst Monthly Losses since 2016

Gold prices declined on Friday, falling for the fourth consecutive session, extending their weekly and monthly losses amid a rise in treasury yields.

The yellow metal futures for April delivery closed lower by $46.60, or 2.6%, at $1,728.80 per ounce, finishing at their lowest level since June 2020.

For the week, gold’s most active contracts decreased by 2.7%, bringing their monthly decline to 6.6%.

Accordingly, February saw the worst performance for gold futures since November 2016, when treasury yields surged following the presidential elections in the United States that brought Donald Trump to the White House.