Gold shed 1% on Monday as a recovery in share markets and rising U.S. Treasury yields reduced some of the metal's safe-haven appeal, prompting investors to book profits.
Spot gold was down 1.06% at $1,497.85 per ounce. U.S. gold futures slipped 1% to $1,508.1.
Benchmark U.S. Treasury yields gained on Monday, moving further away from record lows after the closely-watched U.S. yield curve between two- and 10-year bonds inverted for the first time since 2007 on Wednesday.
Equity markets around the world rose, with European markets rising for the second session, as investors cheered signs of moves by Germany and China to counter slowing growth.
Source : Reuters