He gold pierced the $2,000 level this Monday, April 10, while the super dollar advanced following strong US jobs numbers on Friday, while traders also positioned for inflation figures this week that could influence interest rate hikes.
spot gold fell 1% to $1,987.96 an ouncewhile US gold futures they fell 1.2% to $2,002.90.
US Treasury bond yields They were rising after the US jobs report showed a strong pace of hiring in March, which is likely to give the Federal Reserve room to raise rates again.
The odds of a 25 basis point rate hike next month now stand at 70%, causing a rally in the dollar and making bullion, which is traded on the greenback, less attractive to holders of other currencies. .
Rising interest rates tend to make gold less attractive, as it yields no interest, despite its traditional status as an inflation hedge.
Gold topped $2,000 last week as weak US service sector and job vacancy data made a rate hike next month less likely.
The US CPI will be released this Wednesday and the minutes of the last Fed meeting will be published later.
Among other precious metals, Silver fell 0.9% to $24.77 an ounce, platinum shed 1.5% to $992.25, while palladium was down 3.4% at $1,416.17.
Source: Ambito
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