Gold Rebounds From Two-Month Low Early Even as Dollar Rises to Two-Yeah High
Gold prices rose early on Monday, rebounding from six losing sessions even as the dollar continued its post-election rally.
Gold for December delivery was last seen up US$36.80 to US$2,606.90 per ounce, rising off Friday's two-month low.
The rise comes even as the dollar continues to rise, normally a bearish note for commodities priced in the currency. The ICE dollar index was last seen up 0.03 points to 106.71, the highest since November, 2022.
The dollar has benefited from post-election optimism that President-elect Donald Trump's policies will benefit the U.S. economy, while uncertainty over the pace of U.S. interest-rate cuts rose after Federal Reserve Chair Jerome Powell said the central bank did not need to hurry to lower rates.
Treasury yields were mixed, with the U.S. two-year note last seen paying 4.316%, down 1.5 basis points, while the yield on the 10-year note was up 2.7 points to 4.471%.
Source : MT Newswires
