Home Industry Economy Gold holds biggest decline in six weeks after bond yields surge Bullion fell last year in its biggest annual decline since 2015 by Bloomberg January 4, 2022 Gold was steady after posting its biggest drop in six weeks as bond yields surged, with investors bracing for monetary policy tightening in 2022. Ten-year Treasuries had the worst start to a year in more than a decade, with yields rising 12 basis points on Monday, the largest first-day jump since 2009, according to Bloomberg data. Meanwhile, the S&P 500 Index closed at a record high on risk-on sentiment. Bullion fell last year in its biggest annual decline since 2015 as central banks started to dial back pandemic-era stimulus to fight inflation. Traders are also monitoring the risks posed by the omicron virus variant and will focus this week on the releases of minutes from the Federal Reserve’s latest meeting and the US nonfarm payrolls data. Spot gold rose 0.1 per cent to $1,803.81 an ounce at 7.54am in Singapore, after dropping 1.5 per cent Monday, the most since November 22. The Bloomberg Dollar Spot Index was flat after adding 0.5 per cent in the previous session. Silver and platinum were steady, while palladium advanced. Tags Bond Yields Bullion gold Silver Treasuries 0 Comments You might also like Gold price drifts higher as inflation remains hot Gold shatters record highs, heads for third straight weekly gain Gold continues record rally after US Fed comments Gold regains its allure with record high prices on safe-haven demand