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.
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