gold
Gold prices fell during Monday’s trading, in conjunction with the rise of the dollar and the yield on US Treasuries, ahead of inflation data.
Later this week, the CPI reading for last May will be released amid expectations of continued inflationary pressures.
As a result of these pressures, speculations are growing that the Federal Reserve will decide during the current June and July meeting to raise interest rates by 50 basis points in each of them to curb inflation.
On the other hand, the yield on the 10-year US Treasury bond rose to 3.02%, the yield on the 30-year bond rose to 3.182%, while the yield on the two-year bond rose to 2.726%.
The dollar index ( once morest a basket of major currencies) by 11:50 pm Mecca time increased by 0.3% to 102.4 points.
At the close of the session, gold futures contracts for August delivery fell by 0.3%, or the equivalent of $6.50, to $1843.70 an ounce.
