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Gold declines to 5 week low as dollar and bond yields strengthen

Gold prices fell to their lowest level in more than five weeks on Monday, as the dollar and bond yields strengthened ahead of the U.S. Federal Reserve's July meeting minutes this week that could guide expectations for future interest rates.

Spot gold was down 0.2% at $1,910.29 per ounce, as of 0119 GMT, hitting its lowest level since July 7. U.S. gold futures also slipped 0.2% to $1,942.60.

U.S. bond yields gained, lifting the dollar to its highest since July 7, after data on Friday showed producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year.

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