02:00 PM EST, 11/18/2024 (MT Newswires) -- Gold prices rose mid-afternoon on Monday, rebounding from six losing sessions as the dollar and treasury yields weakened.

Gold for December delivery was last seen up US$43.10 to US$2,613.20 per ounce, rising off Friday's two-month low.

The rise comes even as the dollar weakened, a bullish note for commodities priced in the currency. The ICE dollar index was last seen down 0.43 points to 106.26.

Also aiding the gain was a forecast from Goldman Sachs predicting gold would reach US$3,000 per ounce next year, Bloomberg News reported.

Treasury yields fell, with the U.S. two-year note last seen paying 4.297%, down 3.4 basis points, while the yield on the 10-year note was down 2.5 points to 4.419%.