Gold prices inched higher on Monday, staying above the key $1,800 per-ounce level, as slightly weaker U.S. Treasury yields offset an uptick in the dollar.

Spot gold rose 0.2% to $1,811.31 per ounce by 0145 GMT. U.S. gold futures were little changed at $1,812.00.

Benchmark U.S. Treasury yields edged down from their highest in more than a week touched in the previous session. Lower yields reduce the opportunity cost of holding bullion, which pays no interest.


The dollar index inched up from its weakest level in nearly a week against its rivals, making greenback-priced gold less attractive for holders of non-U.S. currencies.

Japan’s retail sales rose faster than expected in November as fewer COVID-19 cases encouraged shoppers to ramp up spending on goods and services.

Analysts have said gold trading is likely to remain thin and range-bound this week.

Stock markets in Europe and Asia recorded weekly gains on Friday, while the safe-haven dollar posted its worst week in three months on signs the Omicron variant would not significantly derail global economic growth.

Spot silver edged up 0.1% to $22.95 an ounce, platinum dropped 0.4% to $970.34, and palladium was up 0.3% at $1,954.35.