Gold prices jumped more than 1% on Monday, with the rally spilling over into other precious metals as well, driven by a retreat in the dollar and U.S. Treasury yields.
Spot gold rose 1.3% to $1,791.26 per ounce by 1:42 p.m. EDT (1742 GMT), after hitting its highest since April 22 at $1,797.75. U.S. gold futures settled 1.4% higher at $1,791.80.
The dollar index slipped 0.3%, making gold cheaper, while benchmark U.S. 10-year Treasury yields also retreated, reducing the opportunity cost of holding non-interest bearing gold.
KEFI Gold & Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.