2023.10.1618:21:00UTC+00Gold Futures Settle Lower

Gold futures settled lower on Monday as Treasury yields rose on lingering concerns about inflation.

A weak dollar helped limit the bullion's downside. The dollar index dropped to 106.25, losing about 0.37%.

Investors are looking ahead to data on U.S. retail sales, industrial production, housing starts and home sales due this week.

Federal Reserve chair Jerome Powell is scheduled to speak at the Economic Club of New York.

Gold futures for December ended lower by $7.20 at $1,934.30 an ounce.

Silver futures for December ended down $0.130 at $22.765 an ounce, while Copper futures for December settled at $3.5820 per pound, gaining $0.0110.

In U.S. economic news, the New York Federal Reserve released a report showing a downturn in regional manufacturing activity in the month of October.

The New York Fed said its general business conditions index fell to a negative 4.6 in October from a positive 1.9 in September, with a negative reading indicating a contraction in activity. Economists had expected the index to drop to a negative 7.0.