Gold prices rise as US bond yields fall

Gold prices rose on Monday, after suffering losses over six sessions, as falling US Treasury yields boosted the attractiveness of the non-yielding metal.

And gold rose in spot transactions 0.7 percent to $ 1776.10 an ounce by 0732 GMT, while US gold futures increased 0.4 percent to $ 1775.55 an ounce.

The expert at Daily FX Margaret Yang said that the real returns are falling, which contributes to the stability of gold prices and the attempt to recover, adding, "Investors are also taking advantage of this opportunity to buy at a low price in light of the growing inflationary pressures."

The US Treasury yield fell to its lowest level since late February earlier in the session, reducing the opportunity cost of holding non-yielding gold.

At the same time, the dollar settled near its multi-month peak reached in the previous session.

Last week, gold recorded its worst weekly performance since March 2020 after the Federal Reserve signaled to tighten monetary policy earlier than expected.

As for other precious metals, platinum earlier recorded its lowest level since January 11 at $ 1019 an ounce, and in the latest trading, it fell 0.2 percent to $ 1032.46.

Palladium rose 1.3 percent to $1,497.73 an ounce, while silver advanced 0.5 percent to $25.92.

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