Bitcoin Struggles Below $40K; Upside Limited as Trend Weakens

Reuters

Gold prices dip as firmer U.S. dollar eclipses lower yields

Gold prices dipped on Monday, as an uptick in the dollar dimmed the appeal of the safe-haven metal, although a pullback in U.S. Treasury yields and prospects of a prolonged accommodative interest rate environment limited losses. Spot gold was down 0.4% at $1,883.10 per ounce, as of 0637 GMT, after rising more than 1% in the previous session, as last month’s U.S. non-farm payrolls fell short of expectations. “We are seeing some long covering in Asia today, with risk hedges being unwound after an uneventful news weekend, helped by a slightly stronger U.S. dollar and with bitcoin rallying,” Jeffrey Halley, OANDA senior market analyst, said.