RIYADH: Gold prices edged higher on Monday, supported by a slight pullback in US Treasury yields, although bullion’s outlook remained vulnerable to aggressive interest rate hikes by central banks.
Spot gold was up 0.1 percent at $1,853.43 per ounce, as of 0208 GMT, while US gold futures rose 0.3 percent to $1,856.20.
Silver climbed 1.5 percent to $22.24 per ounce and palladium added 1.6 percent to $2,007.18.
Platinum rose 0.6 percent to $1,019.79 per ounce, after hitting its highest since late March at $1,032.50 on Friday.
Wheat rises 4 percent
Chicago wheat futures climbed more than 4 percent on Monday, rising for a second session in three as worries over supplies from the Black Sea region and strong demand underpinned prices.
Corn gained over 1 percent while soybeans advanced more than half a percent.
The most-active wheat contract on the Chicago Board of Trade was up 4.3 percent at $10.84-1/2 a bushel, as of 0226 GMT. Corn climbed 1.3 percent to $7.36-3/4 a bushel and soybeans rose 0.7 percent to $17.10 a bushel.
Copper at one-month high
London copper prices on Monday scaled to their highest in more than one month, as relaxation of COVID-19 lockdowns in top metals consumer China and hopes that the US would cut tariffs on Beijing lifted sentiment.
Three-month copper on the London Metal Exchange was up 2.1 percent at $9,695 a ton, as of 0352 GMT, after hitting its highest since April 29 at $9,805.50 in early Asian trade.
The most-traded July copper contract in Shanghai rose 1 percent to $10,930.32 a ton.
(With input from Reuters)