"Dip buyers have emerged after the 1.15% fall overnight and U.S. bond yields have slightly eased, which has provided support for precious metals," OANDA senior market analyst Jeffrey Halley said. A clutch of stimulus measures across the globe to contain the economic fallout of the pandemic has fanned worries of a potential rise in inflation, helping bond yields. Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust fell to their lowest since April 2020 on Monday.