gold futures on monday skidded lower suffering the steepest daily decline in more than three months as a rally in yields and a strengthening of the us dollar buffeted precious metals december gold gcz21 gc00 ended down 4530 or 24 to settle at 180630 an ounce the yellow metal booked a third straight decline matching the longest such skid since the period ended oct 11 and finished at the lowest point since nov 4 trading for the precious metal came as the dollar as measured by the us ice dollar index dxy dxy  was up less than 05 hanging near the loftiest level since the summer of 2020 on top of that the 10year treasury note yield tmubmusd10y was up around 162 compared with a friday afternoon level at 1535 those moves came as the white house announced that biden has nominated jerome powell to another fouryear term as fed chairman and has decided to nominate fed gov lael brainard to serve as the central banks vice chairwoman