SLV - Gold slips to lowest since September on strengthening dollar rising yields

Gold prices fell on Monday to their lowest settlement in more than nine months , as the strong dollar and the prospect of further aggressive interest rate hikes by the Federal Reserve continued to weigh on the yellow metal.

Front-month Comex gold ( XAUUSD:CUR ) for July delivery closed -0.6% to $1,730/oz, the metal's 12th decline in the past 15 sessions after rising in the previous two sessions, while Comex July silver ( XAGUSD:CUR ) settled -0.5% to $19.067/oz, silver's second lowest settlement value YTD.

ETFs: ( NYSEARCA: GLD ), ( NYSEARCA: GDX ), ( IAU ), ( NUGT ), ( PHYS ), ( SIL ), ( SLV ), ( SIVR )

Precious metals miners trade broadly lower, including ( NEM ) -0.9% , ( GOLD ) -1.4% , ( GFI ) -0.6% , ( AU ) -1.7% , ( HMY ) -1.6% , ( IAG ) -2.7% ,  ( NGD ) -6% .

" Gold is under pressure as the dollar is making major runs and there is expectations of a fairly large interest increase after the [recent U.S.] federal report highlighted a strong labor market," Oanda's Edward Moya said, expecting to see selling pressure test the $1,700 level before support sets in at ~$1,670/oz.

Silver "appears to be relatively undervalued/underpriced vs. both copper and gold, [and] is statistically due for a meaningful move higher soon," Paul Franke writes in a bullish analysis posted on Seeking Alpha .

For further details see: