Gold rallies above $4,400 as dollar slides
Gold rose more than 1% on Monday, trading near $4,422 as US dollar weakness and lower Treasury yields supported the metal after soft inflation data.
XAUUSD
Gold advanced over 1% on Monday, with XAU/USD trading around $4,422 after recovering from daily lows. The move was driven by broad US dollar weakness and a decline in US Treasury yields.
Last week’s soft inflation data reduced expectations for a hawkish Federal Reserve, pressuring the dollar and improving the appeal of non-yielding gold.
The precious metal broke above the $4,400 level as investors positioned for a less aggressive Fed stance.
Source: FXStreet Forex News