Gold up over 1% as US Treasury yields pull back
The price of spot gold increased on Monday as the United States Treasury bond yields continued to decline. Precious metals have been struggling for direction in the past few weeks, as uncertainty surrounding monetary policy moves proceeded to put pressure on these rare commodities.
Traders will be focusing on the new data on US jobs, scheduled to be released later this week, in order to receive more hints on the future path of interest rate hikes.
Gold increased 1.18% to sell for $1,680.93 per ounce at 11:21 am ET. Silver surged 4.75%, going for $19.93 per ounce simultaneously. Platinum soared 2.02%, selling for $881.46 per ounce at 11:22 am ET, while Palladium rose 1.41% to go for $2,204.38 per ounce a minute later.