Gold logs lowest close since April 2020

Gold prices fell on Monday, as the US dollar rallied against most of its peers after the US Treasury bond yields rose, which pushed gold to close at its year low.

The US House of Representatives will pass the bill later this week, after the US Senate officially approved the $1.9 trillion Covid-19 relief package.

The yield of the 10-year US Treasury bonds rose above 1.6%, which foreshadows more pressure on stocks.

The dollar index rose against a basket of currencies by 0.3% to 92.2 points as of 19:27 GMT, after it hit a high of 92.4 points and a low of 91.8 points.

Gold April futures fell 1.2% or $20.5, and closed at the lowest level since April 2020 at $1,678.