The price of gold finished lower on Monday, extending losses into a second straight session following its worst daily drop in about three weeks on Friday.
Gold for August delivery GCQ22, -0.07% GC00, -0.07% gave up earlier gains to shed $6.50, or 0.3%, to settle Monday at $1,843.70 an ounce on Comex. The yellow metal fell as the ICE US Dollar index DXY, 0.27% gained against a basket of rival currencies, but also as haven-seeking investors pushed the 10-year Treasury rate back above 3%. Rising yields can weigh on nonyielding assets like gold, while a strong dollar can make it more expensive to users in other currencies.