09:38 AM EDT, 06/22/2026 (MT Newswires) -- Gold traded lower early Monday as the U.S. dollar climbed to its highest level in more than a year, extending gains after the Federal Reserve signaled it could raise interest rates later this year to curb inflation.

Gold for December delivery was last seen down 0.5% to US$4,225.00 per ounce.

"For now, the yellow metal remains stuck in technical limbo, trading between key support at USD 4,000-4,100 and resistance from the 200-day moving average, currently near USD 4,466," Saxo Bank noted.

The dollar edged up early to the highest since May 2025. The ICE dollar index was last seen up 0.05 points to 100.91. Treasury yields were sharply higher, with the U.S. two-year note last yielding 4.228%, up 4.1 basis points, while the 10-year Treasury yield rose 3.8 basis points to 4.498%.