Gold fell 1.6%

Gold prices fell on Monday as a rally in bond yields and Wall Street earnings dampened the attractiveness of the precious metal.

Yield in 10 US years climbed over 1.6% today for the first time since last November when the micron mutation appeared. At the same time, all three Wall Street indices continued to rise on the ground in the first session of 2022, maintaining their upward momentum after strong gains in 2021.

Against this background, the February gold contract lost $ 28.50, or 1.6%, and closed at $ 1,800.10 an ounce. The precious metal recorded total losses of 3.6% in 2021.

Today’s closing of the contract is the lowest since December 21.

Silver lost the most in March, losing 54 cents, or 2.3%, to $ 22.81 an ounce. Silver lost a total of 11.5% in 2021 in its worst year since 2014 when it had fallen 19.5%.

March copper, meanwhile, lost 0.9 percent to $ 4,422 a pound. In terms of other metals, April platinum fell 1.3 percent to $ 954 an ounce, while palladium for March fell 4.5 percent to $ 1,826 an ounce.