settled gold prices On Monday, the US dollar and US bond yields rose, following strong jobs data raised expectations for a significant interest rate hike.
There was little change in the price of gold in spot transactions at 1922.43 dollars an ounce.
US gold futures rose 0.2% to $1,927.50.
The dollar rose strongly at the beginning of the week following the US Treasury yields rose, with interest rates expected to rise quickly.
Friday’s data showed that the US unemployment rate fell to its lowest level in two years to just 3.6% last month, strong enough that investors are betting that it will strengthen the Federal Reserve’s resolve to tackle inflation by raising interest rates significantly.
A higher dollar makes gold less attractive to other currency holders, while a higher bond yield increases the opportunity cost of holding gold.
The price of silver in spot transactions rose 0.1% to $24.63 an ounce, while platinum fell 0.1% to $984.67.
Palladium rose 2.2% to $2,326.18.
