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Gold declined as the dollar remained resilient and 10-year Treasury yields held near the highest level in more than a year, weighing on the precious metal which doesn’t offer interest.

Investors will turn their attention to a heavy slate of bond auctions focused in maturities that have gotten pummeled amid a brightening outlook for growth and inflation. Federal Reserve chairman Jerome Powell reiterated in a Wall Street Journal editorial that the central bank will continue to provide aid to the economy “for as long as it takes” as the recovery is far from complete. Richmond Fed President Thomas Barkin said in a Bloomberg TV interview Sunday that there is no sign yet of unwanted inflation pressures.

Bullion has dropped about 8% this year with investors rotating out of havens into riskier assets, although its role as a hedge against inflation has helped give some support to prices. On Friday, the Fed said it’ll let a significant capital break for big banks expire at month’s end, which saw bond yields and the dollar tick higher.

Spot gold fell 0.3% to $1 739.78 an ounce by 7:44 a.m. in Singapore, after rising 0.5% on Friday. Silver, platinum and palladium all retreated. The Bloomberg Dollar Spot Index advanced 0.2%.

Meanwhile, Powell and Treasury Secretary Janet Yellen are expected to make their first joint appearance before the US House Financial Services committee to testify on Fed and Treasury pandemic policies Tuesday.