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Reuters
Gold jumps more than 1% as U.S. dollar, yields pull back
Gold prices on Monday rose more than 1% after declines in the previous two sessions, as the U.S. dollar and Treasury yields faltered, although risks from looming Federal Reserve interest rate hikes persisted. Spot gold was up 1.2% to $1,661.85 per ounce by 10:32 a.m. EDT (1432 GMT), moving away from the more than two-week low touched in the last session. “The dollar’s significantly lower … yields are ticking lower,” said Bob Haberkorn, senior market strategist at RJO Futures, who also noted some “safe-haven demand with heightened geopolitical risks.”
