Update: Gold Edges Down Despite a Weaker Dollar as Yields Rise

01:42 PM EDT, 06/29/2026 (MT Newswires) -- (Updates prices in the second and final paragraphs.)

Gold prices eased on Monday on rising Treasury yields even as the dollar weakened.

Gold for August delivery was last seen down 1.3% to $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 0.22 points to 101.14 after last week rising to a seven-month high. Treasury yields were higher -- bearish for gold since the metal pays no interest -- with the U.S. two-year note last seen at 4.119%, up 2.1 basis points, while the yield on the 10-year note was up 0.6 point to 4.377%.

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