Gold futures climbed on Monday, buoyed by a fall in U.S. Treasury yields, which contributed to the first price gain for bullion in five sessions. Edward Moya, senior market analyst at Oanda, said gold got a boost after U.S. Treasury Secretary Janet Yellen stated, “I don’t believe that inflation will be an issue, but if it becomes an issue, we have tools to address it.” It is “taking some convincing, but investors are starting to believe that the current reopening trade and surging inflation reports won’t necessarily mean skyrocketing Treasury yields, which would drag gold down,” Moya said. June gold rose $24.10, or 1.4%, to settle at $1,791.80 an ounce.
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