Gold opens the week higher before resuming decline

Gold prices opened higher on risk aversion in the markets following the US government shutdown and losses sustained by the dollar. 

However, gold relinquished its gains after the greenback regained its footing in Asian trade on short-covering, with the shutdown already having been priced in and contained in its value. 

Gold last traded at $1,331.48 an ounce, up from the opening of $1,335.12, with an intraday low at $1,330.29, and a high at $1,335.77. 

10-year US treasury bond yields hit 3-1/2 year highs, in turn liming gold's advance today as bonds are considered a strong pick for haven demand in competition with gold. 

Now markets focus on Congress vote today to temporarily funds the federal government, in addition to policy meetings later this week by European Central Bank and Bank of Japan.