Gold Settles at Lowest Level in Nearly a Year

Gold prices declined on Monday to their lowest level in about a year, as the U.S Dollar (USD) and Treasury bond yields continued to rise strongly, supported by expectations of economic recovery, especially after the Senate passed the $1.9 trillion stimulus package.

The yellow metal futures for April delivery dropped by $20.50, or 1.2%, to close at $1,678 per ounce.

This marked the lowest finishing level for gold’s most active contract since April 3, 2020.

The decline comes after gold recorded a 1.8% fall in the first week of March.