Gold prices edged lower on Monday, as an elevated U.S. dollar hurt demand for greenback-priced bullion and also outweighed support from weakening Treasury yields.
FUNDAMENTALS
* Spot gold was down 0.2% at $1,807.19 per ounce, as of 0101 GMT, after hitting a five-month low of $1,783.50 on Friday. U.S. gold futures rose 0.5% to $1,809.50.
* The dollar hovered close to recent two-decade highs, continuing to make gold less attractive for buyers holding other currencies, after playing a significant part in bullion’s worst quarterly showing in over a year.
* Benchmark U.S. 10-year Treasury yields fell to their lowest level in a month on Friday, buoying prices of non-yielding bullion.
* Asian share markets started cautiously on Monday as a run of soft U.S. data suggested downside risks for this week’s June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.
* India has raised its basic…
