RPT-PRECIOUS-Gold rises on softer Treasury yields; silver steadies after record run

Dec 15 (Reuters) - Gold rose on Monday, supported by softer U.S. Treasury yields, while silver steadied after a record-setting spree last week.

FUNDAMENTALS

Spot gold XAU= rose 0.3% to $4,313.08 per ounce by 0119 GMT. It had hit its highest level since October 21 on Friday.

Gold has gained about 64% this year, shattering multiple records and making it one of the best-performing assets of 2025.

U.S. gold futures GCcv1 gained 0.39% to $4,344.80 per ounce on Monday.

Benchmark 10-year U.S. Treasury yields US10YT=RR inched lower, increasing the appeal of non-yielding bullion. US/

The Federal Reserve delivered a 25-basis-point rate cut last week in an uncommonly divided vote but indicated a likely pause in further reductions amid persistent inflation and an uncertain labour outlook.

Two Fed officials who opposed the rate cut said on Friday that inflation was still too high to justify lower borrowing costs, citing the lack of recent official data on the pace of price increases.

Investors are currently pricing in two rate cuts for next year, with this week's non-farm payrolls report expected to provide further clues on the Fed's policy path.

Non-yielding assets such as gold tend to benefit in a low-interest-rate environment.

A Malian judge has ordered the return of possession of 3 metric tons of gold seized nearly a year ago from Barrick Mining's Loulo-Gounkoto complex to the Canadian miner, according to two sources familiar with the matter.

Gold discounts in India widened last week as demand weakened despite the wedding season following record-high prices, while Chinese demand remained muted amid volatility and elevated spot prices. GOL/AS

Spot silver XAG= was steady at $62.02 per ounce. It hit a record high of $64.64 on Friday before closing sharply lower.

Silver gained about 6% last week, taking the year-to-gate gain to 115% on tightening inventories, strong industrial demand and its inclusion on the U.S. critical minerals list.

Spot platinum XPT= lost 0.2% to $1,741.82 on Monday, while palladium XPD= firmed 0.4% to $1,493.40 per ounce.

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