Gold Jumps as Weaker Dollar and Lower Yields Boost Prices

Gold prices surged over 1% on Monday to reach $4,422 as the US Dollar weakened and lower US Treasury yields reduced speculation of a hawkish Federal Reserve.

Last week's soft inflation data led investors to trim bets on higher interest rates from the Fed, despite rising yields.

The US Dollar Index fell 0.37% to 99.53, providing a tailwind for gold prices.

Although the 10-year Treasury yield rose over 2.5 basis points to 4.718%, it capped gold's advance towards the $4,500 mark.