Gold gained ground above the $1,780/oz level on Monday, consolidating the rebound from a seven-month low of $1,759/oz hit last session on the back of a weaker dollar. Adding to the bullish tone were dovish-sounding remarks from US Federal Reserve chief’s Jerome Powell, signalling that he has no plans to taper QE anytime soon. Still, higher US treasury yields and hopes of a swift economic recovery capped much of the upside momentum.