Gold Futures Settle Notably Lower As Dollar, Bond Yields Rise
Gold prices drifted lower on Monday, pushing the most active gold futures contract to its lowest close in about three weeks, as the dollar firmed up and the yields on U.S. Treasury Notes rose.
The dollar index advanced to 92.96, gaining about 0.2%. The yield on U.S. 10-year Treasury Note rose to over 1.70%.
Gold futures for April ended down $20.10 or about 1.2% at $1,712.20 an ounce, the lowest close since March 8.
Gold futures slid to a low of $1,703.30 an ounce around mid morning before recovering some lost ground.
Silver futures for May ended lower by $0.343 or 1.4% at $24.771 an ounce, while Copper futures settled at $4.0345 per pound, losing $0.0335 or about 0.8%.