- Sentiment on gold is buy-and-hold- analyst
- U.S. 10-year Treasury yields highest in 2 years
- Focus on U.S. CPI data due on Wednesday
Jan 10 (Reuters) – Gold edged lower on Monday, weakened by a firmer dollar and elevated Treasury yields, as investors focused on key inflation data due later this week that could underpin faster rate hikes by the U.S. Federal Reserve.
Spot gold was down 0.1% at $1,793.86 per ounce at 10:20 ET (1520 GMT), having hit a three-week low on Friday. U.S. gold futures fell 0.2% to $1,794.60.
“We’ve got inflation working in gold’s favor, but yields are pushing prices lower leading to a tug-of-war between these two factors,” said Bob Haberkorn, senior market strategist at RJO Futures.
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The sentiment on gold is buy-and-hold, with prices settling into a range of around $1,800, Haberkorn added.
U.S. 10-year Treasury yields rose to their highest level in two…
