Gold Rises as Demand Increases Due to The Fall of The Dollar And Bond Yields

The gold rose on Monday, hovering near a seven-week high it reached in the previous session, as prices were supported by the drop in the dollar and the decline in US Treasury bond yields.

Spot gold rose 0.1% to $1777.65 an ounce, after hitting its highest level since February 25 at $1783.55 on Friday.

US gold futures fell 0.1% to $1777.80 an ounce.

The dollar index fell to a low of nearly a month against rival currencies, making gold less expensive for holders of other currencies.

And the yield on the US benchmark 10-year Treasury bonds fell to the lowest levels in several weeks that touched it last week. Lower bond yields reduce the opportunity cost of zero-yielding gold.

As for the other precious metals, silver fell 0.6% to $25.79 an ounce after hitting a peak of nearly a month in the previous session. Palladium rose 0.2% to $2,782.68, while platinum rose 0.1% to $1,204.12.