Spot gold was up 0.1% at $1,811.99 an ounce, 0319 GMT. US gold futures rose 0.6% to $1,812.10.
On Friday, the price of bullion hit a five-month low of $1,783.50 but rallied to end the session almost flat.
“Once again we saw bulls supporting gold with its break below $1,800 on Friday, and with US yields continuing to retrace, this allows for gold’s upside potential near term,” he said. said Matt Simpson, senior market analyst for City Index.
Benchmark 10-year US Treasury yields fell to their lowest level in a month on Friday, supporting non-performing gold. [US/]
“But the reality is that managed funds and big speculators are increasing their short bets against gold, and if we see a close below $1,800, that could trigger another sellout,” Simpson said.
The dollar remained near recent two-decade highs, continuing to make greenback-priced gold less attractive to buyers holding other currencies, after playing a significant role in bullion’s worst quarterly performance in more than a decade. ‘a year. [USD/]
Asian equities got off to a cautious start on Monday, with a slew of bleak US data suggesting downside risks to this week’s June jobs report, as recessionary hubbub continued to drive a relief rally in stocks. state bonds. [MKTS/GLOB]
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.8% to 1,041.9 tonnes on Friday from 1,050.31 tonnes on Thursday. [GOL/ETF]
US federal government offices, stock and bond markets, and the Federal Reserve will be closed Monday for the Independence Day holiday.
Spot silver fell 0.2% to $19.84 an ounce, platinum 0.5% to $884.49 and palladium 1.3% to $1,934.40.