Gold prices ease as US yields inch up

Gulf Today Report 

Gold declined on Monday due to the jump in US Treasury yields to their highest in 11 months.

Spot Gold fell 0.1% to $1,821.84 per ounce by 00:41 GMT while US Gold futures slipped 0.1% to $1,822.30.

 Benchmark US Treasury yields reached their highest since March, expectations of inflation edged up to a six-year high. 

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Inflation boosts gold, pushes Treasury yields up, which increases the opportunity cost of holding bullion.

US Treasury Secretary Janet Yellen on Friday urged G7 finance leaders to "go big" with additional fiscal stimulus to recover from the COVID-19 pandemic.

Demand for physical gold in India fell last week due to volatility in domestic prices.