Gold slid to its lowest in nearly four months on Monday after the latest U.S. jobs data boosted stock markets and Treasury yields, crimping demand for safe-haven bullion.<\/strong><\/p>\n Spot gold had fallen 0.5 percent to $1,207.03 per ounce by 0738 GMT. It earlier touched its lowest since March 15 at $1,204.45.<\/p>\n U.S. gold futures for August delivery dropped 0.3 percent to $1,206.20 per ounce.<\/p>\n “The fall in gold prices is very much underpinned by yield-chasing behavior,” said OCBC analyst Barnabas Gan.<\/p>\n Higher yields on assets such as U.S Treasuries increase the opportunity cost of holding non-yielding bullion.<\/p>\n “If (treasury) yields in the U.S. and Europe move higher, that will most likely cap any gains in gold and will test the downside again,” said Jeffrey Halley, senior market analyst at OANDA.<\/p>\n The 10-year U.S. Treasury yield hit a two-month high of 2.398 percent on Friday. [MKTS\/GLOB]\n Data on Friday showed U.S. non-farm payrolls jumped by 222,000 jobs last month, beating expectations of a 179,000 gain.<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Gold drops to lowest in nearly 4 mths as higher US yields fuel risk appetite Gold slid to its lowest in nearly four months on Monday after the latest U.S. jobs data boosted stock markets and Treasury yields, crimping demand for safe-haven bullion. Spot gold had fallen 0.5 percent to $1,207.03 per ounce by 0738 …<\/p>\n","protected":false},"author":3,"featured_media":97131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-97127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-te-public"],"yoast_head":"\n