Gold edges higher-

Gold edged higher on Monday from a more than one-and-a-half-month low recorded earlier in the session, although gains were capped as rising fears of inflation and elevated interest rates pushed global bond yields higher, reports Reuters.
Spot gold was up 0.3% at $4,552.59 per ounce as of 1215 GMT, after hitting its lowest level since March 30 earlier in the day. US gold futures for June delivery lost 0.1% at $4,557.
"The decline (in ?gold prices) is technically stretched, and markets don't seem ready to let gold drop into bear territory as the structural case for gold remains intact, helping it find support," said Nikos Tzabouras, a senior market analyst at Jefferies-owned Tradu.com.
However, "with markets pricing out any Federal Reserve rate cuts (this year) and hike bets on the rise, higher-for-longer prospects are dealing a direct blow to non-yielding assets like gold," he added.
Meanwhile, banks have started trimming their near-term gold price forecasts due to softer investor demand, with J.P. Morgan among the first major lenders to cut ?its 2026 average gold price forecast to $5,243 per ounce from $5,708.
Spot silver was up 0.8% at $76.52 per ounce, platinum lost 0.2% at $1,969.90 and palladium rose 0.2% to $1,415.76.