Gold Up Over Weaker Dollar, But Gains Capped by Higher Yields

Investing.com – Gold was up on Monday morning in Asia, edging up from the over seven-month low seen during the previous session. A weaker dollar gave gold a boost, although gains were capped by higher U.S. Treasury yields.

Gold futures were up 0.26% at $1,782 by 11:53 PM ET (4:53 AM GMT). The dollar was down on Monday, while benchmark U.S. Treasury yields climbed to a near one-year peak.

Demand for physical gold climbed in India during the past week as local prices hit their lowest levels since June 2020. Other Asian centers also expect a pickup in purchases after the Lunar New Year holiday.