2021.04.1209:43:00UTC+00Gold Dips As Dollar Gains Traction

Gold prices slipped on Monday as the dollar ticked up slightly despite a retreat in U.S. Treasury yields.

Spot gold dipped 0.1 percent to $1,741.72 per ounce, while U.S. gold futures were down 0.2 percent at $1,742.

The greenback began the first trading session of the week on a strong footing as investors braced themselves for a busy week of economic data, company earnings and government bond sales.

Treasury yields fell after Fed Chair Jerome Powell said that it was "highly unlikely" that the central bank would look to raise rates "anything like this year."

The U.S. earnings season begins this week with major banks like JPMorgan, Citigroup, Morgan Stanley among others reporting results.

U.S. officials and company executives are due to discuss the global shortage of computer chips today.

The U.S. sells three-, 10- and 30-year Treasuries at the start of the week.

On the data front, trading this week may be impacted by reaction to reports on consumer prices, retail sales, industrial production and housing stocks.

The Federal Reserve is scheduled to release its Beige Book, a compilation of economic evidence from the twelve Fed districts.