Small losses the gold

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Gold closed lower on Monday as strong gains on Wall Street, rising bond yields and a rising dollar dampened appetite for the precious metal.

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In particular, the most active contract in February lost $ 4.40 or almost 0.3% and closed at $ 1,779.50 per ounce.

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Silver suffered the biggest losses, with the March contract falling 22 cents or 1% to $ 22,263 per ounce.

The losses followed the strengthening of the yields on the American bonds, with the yield at 10 years climbing to 1.437% from 1.342%. At the same time, the dollar was found to gain 0.2% against the ICE US Dollar, while the Dow Jones industrial average jumped more than 2% on Wall Street in a strong uptrend after last week’s pressure.

March copper, meanwhile, gained nearly 1.7 percent to $ 4,338 a pound.

As for the course of other metals, January platinum gained 1.1% to $ 936.40 per ounce, while palladium for March strengthened by 1.8% and closed at $ 1,845.60 per ounce.


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