The dollar index, which measures the greenback against a basket of other major currencies, was steady after posting its best week since July 2023, with data on Friday showing firms in the U.S. employed more people than expected in December.
Gold prices slid on Monday to trade
near a three-week low touched in the last session, as the U.S.
dollar and bond yields were buoyant on reduced hopes of an early
rate cut by the Federal Reserve and.
Traders are now pricing-in an 83% chance of a U.S. rate cut by March, according to the CME FedWatch tool. Lower interest rates decrease the opportunity cost of holding non-yielding bullion.
Gold creeps higher on weaker US bond yields, traders brace for Fed zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.