Gold prices fall on strong dollar and fading rate cut hopes
Gold fell to $5,097.70 on Monday as a strong dollar and high oil prices weighed on bullion. Investors are scaling back expectations for interest rate cuts.
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Gold prices retreated on Monday as a strengthening currency in the United States and fading expectations for interest rate cuts weighed on the precious metal. Spot gold fell 1.4% to $5,097.70 per ounce after earlier dropping by more than 2%, while futures for April delivery decreased 1% to $5,106. The dollar reached a three-month high, making the asset more expensive for international investors, while 10-year Treasury yields climbed to a one-month peak.
