Gold Prices Mixed Despite Lower Yields

Gold prices were mixed on Monday despite dollar weakness and the recent sharp decline in U.S. Treasury yields.

Spot gold slipped 0.2 percent to $1,807.61 per ounce, while U.S. gold futures were up 0.4 percent at $1,807.90.

The dollar edged lower but hovered near record levels due to worries about slowing global growth.

Eurozone government bond yields rose today, but trading was thinned by the U.S. Independence Day holiday.

Benchmark U.S. 10-year Treasury yields fell to their lowest level in a month on Friday after weak manufacturing and construction spending data helped raise expectations that the Federal Reserve might opt for a less aggressive pace of rate hikes in the months ahead.

Following the long holiday weekend, the Labor Department's monthly jobs report is likely to be in the spotlight this week.

Traders are also likely to keep an eye on reports on factory orders, the U.S. trade deficit and service sector activity.

U.S. hiring is expected to have slowed in June while the minutes from the Fed's June meeting are almost certain to sound hawkish.

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