gold prices held ground at their highest levels since august on monday with prices shaking off pressure from strength in the us dollar and treasury yields to inch higher looking to extend last weeks rise of more than 5 metals prices advanced sharply last week as the us october consumerprice index report came in softer than expected sparking a sharp rally in stocks bonds and gold among other assets as a result it appears gold is shifting back toward a more neutral stance according to the authors of the sevens report looking at the charts gold tested the late september lows once in october and then again in early november successfully holding above the 1630 an ounce area both times while prices broke beyond the october highs which ultimately shifts the technical outlook to neutral from bearish they said golds gains monday come despite strength in both the dollar and treasury yields the ice us dollar index  a measure of the currencys strength against a basket of rivals rose 06 to 106868 while 10year treasury yields rose more than 7 points to 2891 still prices on monday did touch an intraday low at 175580 that followed cautionary comments from federal reserve governor christopher waller that policymakers had ways to go before ending interestrate hikes said rupert rowling market analyst at kinesis money in daily commentary the remarks served as a reminder that golds huge gains last week were driven by sentiment that the fed will be less aggressive with its future upcoming interest rate decisions rather than on any firm fact he said rowling pointed out that pace of last weeks gains in which gold climbed more than 100 an ounce leave gold open to some profittaking this week as investors reassess where the true value of the precious metal lies while the latest inflation figure out of the us was undoubtedly encouraging rising consumer prices remain an issue that the fed looks determined to get back under control through interest rate rises said rowling given all of that golds current price looks dangerously high and it would only take a slight shift in sentiment on where the fed will go with its december rate move for the price to come quickly crashing back to 1700 an ounce he said also seeera of cheap copper prices may be coming to an end