Gold prices slip 1.0pc

Gold prices retreated 1.0 per cent on Monday as a firmer dollar and elevated US Treasury yields weighed on the appeal of bullion, reports Reuters.
Spot gold was down 1 per cent at $1,864.43 per ounce by 0936 GMT. US gold futures also fell 1 per cent to $1,873.20.
Rival safe haven, the dollar surged to a two-decade high on growing concerns over slowing economic growth and US interest rate hikes, making gold more expensive for holders of other currencies.
Benchmark 10-year US Treasury yields rose to their highest since November 2018.
"Gold is suffering mostly due to the strength of the US dollar," said Carlo Alberto De Casa, external market analyst at Kinesis, adding that a fall below the key support level of $1,850 would be a negative signal.
While gold is seen as a safe store of value during times of political and economic crises, it is highly sensitive to rising US interest rates and bond yields, which raise the opportunity cost of holding bullion.
Spot palladium gained 0.6 per cent to $2,058.87 per ounce, while platinum shed 2.7 per cent to $936.93 and silver fell 1.3 per cent to $22.05.