New York, November 14 (QNA) – Gold prices slightly retreated on Monday from a three-month peak hit in the previous session, as the dollar and US bond yields rose after a top US central banker warned that the Federal Reserve is not ‘softening’ fight against inflation yet.
Spot gold was 0.5% down at $1761.86 per ounce, after hitting its highest since Aug. 18 on Friday.
US gold futures eased 0.3% to $1764.80.
Gold prices posted their biggest weekly percentage gain since March 2020 last week after signs cooling US inflation lifted hopes that the Fed could be less hawkish on rate hikes.
Benchmark US 10-year Treasury yields edged up from a one-month low.
As for other precious metals, spot silver fell 0.8% at $21.51 per ounce. Platinum eased 0.5% to $1028.38 and palladium was steady at $2021.91. (QNA)
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