Gold Edges Down Despite a Weaker Dollar as Yields Rise

09:14 AM EDT, 06/29/2026 (MT Newswires) -- Gold prices eased early on Monday on rising Treasury yields even as the dollar weakened.

Gold for August delivery was last seen down US$37.80 to US$4,058.50.

Despite the drop, the price of the precious metal is sticking above the seven-month low touched on Thursday that followed a report of yet another monthly rise in U.S. inflation, pushing the dollar higher on expectations higher interest rates are coming.

"Sentiment (remains) weak following a tumultuous week that drove prices to their lowest level since November and a fourth consecutive weekly decline, the longest losing streak since August 2023," Saxo Bank said in a note. "Prices rebounded on Friday, supported by a softer dollar."

The dollar eased, with the ICE dollar index last seen down 0.09 points to 101.26 after last week rising to a seven-month high. Treasury yields were higher, with the U.S. two-year note last seen paying 4.115%, up 1.7 basis points, while the yield on the 10-year note was up 1.1 points to 4.382%.

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