Gold edges down as rising bond yields dent appeal
Benchmark 10-year U.S. Treasury yields edged up and were last at 4.6475%, making non-yielding bullion less attractive for investors.
edged lower on Monday as higher weighed on dollar-priced bullion, while investors kept a close watch on any potential escalation in the .FUNDAMENTALS
* Spot gold fell 0.3% to $2,381.36 per ounce, as of 0054 GMT. U.S. gold futures were down 0.7% to $2,395.80 per ounce.* Benchmark 10-year U.S. Treasury yields edged up and were last at 4.6475%, making non-yielding bullion less attractive for investors.
* At least 34,097 Palestinians have been killed and 76,980 others injured in Israel's ongoing military offensive on the Gaza Strip since Oct.7.
* Persistent and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's latest survey of U.S. central bank contacts.
* Progress on bringing down inflation has "stalled" this year, Chicago Federal Reserve President Austan Goolsbee said, becoming the latest U.S. central banker to drop an earlier focus on the coming need for interest rate cuts.
* Higher interest rates reduce the appeal of holding non-yielding gold.
* Copper, gold and other metals that have notched strong gains this year will rise further fuelled by robust Chinese demand outlook and macro uncertainties.
* Silver may have the power to reach the $30-per-ounce milestone after its 26% surge in March-April on the back of gold's record run and copper's strength, even though analysts say the metal is ripe for a technical correction.
* Spot silver fell 0.6% to $28.48 per ounce, platinum was down 0.1% at $930.72, while palladium was unchanged at $1,026.44.
