Gold slips 1% on elevated yields, dollar strength

Glittering haven: Gold of various weights and sizes sit at Gold Investments Ltd bullion dealers in London. — Bloomberg

BENGALURU: Gold prices retreated 1% on Monday as elevated U.S. Treasury yields and a surge in the dollar to two-decade highs dented the appeal of non-yielding bullion.

Spot gold was down 1% at $1,865.05 per ounce by 1302 GMT. U.S. gold futures fell 0.9% to $1,866.20.