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Gold Futures Settle Higher As Dollar Slips

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Gold Futures Settle Higher As Dollar Slips
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Gold futures settled higher on Monday, gaining for a second consecutive session, as the dollar weakened a bit.

The dollar index dropped to 89.91 around noon, losing more than 0.25%. It was last seen hovering around 89.95.

The yield on 10-year U.S. Treasury Note rose to 1.566% today, limiting gold’s uptick.

Gold futures for August ended up by $6.80 or about 0.4% at $1,898.80 an ounce. Gold futures gained about 1% on Friday.

Silver futures for July ended higher by $0.122 or 0.4% at $28.018 an ounce, while Copper futures for July shed $0.0025, settling at $4.5265 per pound.

Gold prices edged higher earlier in the session after U.S. Treasury Secretary Janet Yellen said a “slightly higher” interest rate environment would be an advantage to the economy.

Investors awaited key U.S. inflation data due later this week for more indications about the Fed’s policy outlook.

The material has been provided by InstaForex Company – www.instaforex.com