Gold prices fell by 1.0% (-$13) to trade below $1,322/oz.
Spot silver was off 2.7% (-46¢) to $16.63/oz.
Palladium was also slammed lower, plunging $49 per ounce (-4.8%) to $970/oz.
Out of the four precious metals, platinum fared the best, sliding 0.75% to about $920/oz.
Dollar Rebounds While Global Bonds See Yields Rise
Global bonds also saw heavy selling pressure on Monday.
Bond yields were higher across the board. The 10-year Treasury yield was above 2.99%. It hasn't broken 3.0% since 2014.
Rising Treasury yields helped the dollar advance another 0.4% on the DXY index to 90.7.
This matches the USD's April high.
The euro slid 0.45% against the dollar to just above $1.22. The pound sterling (-0.35%) slipped below $1.40 while the yen dropped 0.55% to ¥108.25 per USD.
Equities were mixed overnight in Asia but traded slightly higher in Europe. London's FTSE 100 notched an 11-week high.
After meeting with Japanese Prime Minister Shinzo Abe last week, President Trump will now be hosting French President Emmanuel Macron for an official state visit.
Stocks on Wall St were down considerably on Friday: All 11 sectors of the S&P 500 lost ground on the day.
U.S. indices still ended modestly positive for the week, up about 0.5%. Shares were mostly flat at Monday's opening bell.
Commodity Prices Down On Dollar Rally
Last week's impressive performance for most commodities was stopped in its tracks on Monday.
WTI crude was down about 1.45% this morning to $67.40/bbl partly due to a rising oil supply in the U.S.
The Baker Hughes rig count was up for the third consecutive week.
Crude prices gained about 2% last week. Meanwhile, Brent crude fell by 0.9% (-65¢) after last trading above $74/bbl.
Silver also closed the week up 3%, but gold futures actually posted a weekly loss after declining about $10 on Friday.
However, it remains to be seen if more interest-rate hikes from the Federal Reserve will spur the USD even higher.
Even as rates have risen the past two years, the dollar has fallen nearly 10%.
Aluminum prices saw a huge drop on Monday thanks to possible sanctions relief against Russia's biggest producer.
In other geopolitical news, North Korea is reportedly freezing all missile tests as talks with South Korea are planned later this week.
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