WASHINGTON (dpa-AFX) - Gold prices retreated on Monday amidst the dollar's resilience as well as a spike in bond yields. Both Spot Gold and Gold Futures recorded losses in Monday's trade. Spot Gold and Gold Futures (for August settlement) had both rallied on Friday.
The six-currency Dollar Index strengthened 0.17 percent to trade at 97.35. The day's trading range was between 97.07 and 97.44.
Yields on ten-year U.S. treasury bonds surged 1.23 percent to 4.369 percent. The yields had touched a high of 4.371 percent earlier in the trade. Ten-year sovereign bonds in Canada, Germany, France, Spain, Italy and Japan all recorded spikes of more than a percent.
Gold Futures for August settlement slipped 0.85 percent overnight to trade at $3,318.05, versus the previous close of $3,346.50. The day's trading range has been between $3,305.12 and $3,352.20 as compared with the 52-week trading that ranged between $2,351.90 and $3,509.90.
With today's decline, weekly gains stand at 0.39 percent and losses over the past month stand at 0.78 percent. Amidst year-to-date gains of close to 26 percent, the price surge over the 3-year horizon is now more than 90 percent.
Spot Gold shed 0.79 percent overnight to trade at $3,310.38 per troy ounce. The day's trading range has been between $3,296.50 and $3,341.89. Spot Gold had ranged between $2,349.59 and $3,500.33 over the past 52 weeks.
At current prices, Gold Futures and Spot Gold have both gained more than 38 percent over the past year.
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