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Gold is falling with the strength of the dollar
Shafaq News/ Gold prices fell in volatile trading on Monday, as the strong dollar damaged the demand for the dollar-priced metal and put it on its track to the lowest level in more than three months recorded in the previous session.
However, the decline in US 10-year Treasury yields limited the losses in zero-yield gold, helping to keep prices above $1800 an ounce.
Spot gold was down 0.1% at $1,808.61 an ounce as of 05:39 GMT. US gold futures were down 0.2% at $1,804.80.
Friday, prices fell 1% to $1,798.86 an ounce, before closing at $1,811.15.
Concerns about global growth helped the dollar kick off the week from a 20-year high against its peers, making rival safe-haven gold less attractive to buyers holding other currencies.
Although seen as an inflation hedge, gold is sensitive to rising short-term interest rates and US bond yields, which raise the opportunity cost of holding bullion.
Spot silver prices fell 0.2 percent to $21.03 an ounce, platinum increased 0.1 percent to $939.70, and palladium increased 0.6 percent to $1,955.59.
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However, the decline in US 10-year Treasury yields limited the losses in zero-yield gold, helping to keep prices above $1800 an ounce.
Spot gold was down 0.1% at $1,808.61 an ounce as of 05:39 GMT. US gold futures were down 0.2% at $1,804.80.
Friday, prices fell 1% to $1,798.86 an ounce, before closing at $1,811.15.
Concerns about global growth helped the dollar kick off the week from a 20-year high against its peers, making rival safe-haven gold less attractive to buyers holding other currencies.
Although seen as an inflation hedge, gold is sensitive to rising short-term interest rates and US bond yields, which raise the opportunity cost of holding bullion.
Spot silver prices fell 0.2 percent to $21.03 an ounce, platinum increased 0.1 percent to $939.70, and palladium increased 0.6 percent to $1,955.59.
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