Gold slid to a seven-week low on Monday and headed for its biggest one-day loss in two months as the dollar rebounded and 10-year U.S. Treasury yields climbed, weighing on appetite for non-interest bearing bullion.
Gold ended June with its first monthly loss of the year after the strength it saw in early 2017 ran out of steam in the second quarter, dampened by a rise in bond yields.
The metal's decline picked up speed after it broke chart support at $1,234, its 200-day moving average. It rallied $50 an ounce to a seven-month high in the three weeks after breaking
above that level in May, but has since steadily fallen.