Gold yields as dollar softens

Shafaq News/ Gold edged higher on Monday, hovering near a seven-week peak hit in the previous session, as a weaker dollar and lower U.S. Treasury yields supported prices.

Spot gold was up 0.1% at $1,777.65 per ounce by 0450 GMT, after hitting its highest since Feb.25 at $1,783.55 on Friday.

U.S. gold futures were steady at $1,777.80 per ounce.

The dollar index was languishing near a one-month low against its rivals, making gold less expensive for other currency holders.

Benchmark U.S. 10-year Treasury yields edged lower towards multi-week lows touched last week. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold.

Silver fell 0.6% to $25.79 per ounce after hitting a near one-month high in the last session. Palladium rose 0.2% to $2,782.68, while platinum gained 0.1% to $1,204.12.