Gold Prices Rise as Markets Await Key Economic Indicators

Spot gold prices rose to $4,657.10 an ounce in early U.S. trading Monday, up 1.19%, while spot silver increased by 0.43% to $69.160.

The gains came despite elevated Treasury yields, as a weaker U.S. dollar, fiscal-risk hedging demand and lingering uncertainty around the Strait of Hormuz continued to support bullion buying.

Last week, gold held above its previous $4,595 objective and is now testing resistance near $4,661, while silver consolidated below $69.90 after briefly trading above $70.

The rally is not simply a falling-yield trade: long-end yields remain elevated, but dollar weakness, concerns over U.S. Treasury buybacks, fiscal-risk hedging and geopolitical demand have offset the negative carry from higher rates.