• Gold price drops more than 0.60% on Monday amidst upbeat market sentiment
• Elevated US Treasury bond yields underpinning the US Dollar, a headwind for XAU/USD.
• Gold Price Forecast: Bulls take a respite but break below $1900, which could expose the 20-day EMA.

Gold price retraces from around daily highs hit at $1935.51 and drops beneath $1915 as US Treasury bond yields recover some ground and underpin the US Dollar (USD), although market sentiment remains upbeat. Therefore, the yellow metal remains lackluster, and the XAU/USD exchanges hands at around $1914.49, down by more than 0.60%.