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Gold finishes up 0.3% Monday, snaps 2-session skid

39278 gold finishes up 0 3 monday snaps 2 session skid

Gold futures rose on Monday, ending a 2-session slid, as the dollar’s surge took a breather and Treasury yields pulled back from a recent peak. Gold for June deliver gmc22 GC00, +0.41% advanced $5.80, or 0.3%, to settle at $1,814.00 an once on Comex, bouncing after the yellow metal briefly traded below the $1,800 threshold. On Friday, it recorded its biggest weekly decline in 11 months. The ICE U.S. Dollar Index DXY, +0.01% was 0.2% lower Monday after trading near a 20-year high on Friday. A stronger dollar can be a negative for commodities priced in the unit, making them more expensive to users of other currencies. The 10-year Treasury rate was down 5 basis points to 2.88% to start the week. Higher Treasury yields also can be negative for gold and other nonyielding assets.

Source: Marketwatch

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