Gold prices rise as dollar and oil fall ahead of US inflation data

Gold prices rose in Monday trading, buoyed by a weaker US dollar and declining oil prices, as investors awaited the release of key US inflation data this week that could provide signals on the Federal Reserve's future monetary policy direction.

Spot gold increased 0.3% to $4,206.01 per ounce, while US gold futures for December delivery also gained 0.3% to reach $4,230.40.

Performance of other precious metals

Elsewhere, spot silver rose 0.5% to $61.12 per ounce, platinum climbed 1% to $1,704.70, and palladium advanced 1.2% to $1,161.81.

Market trading is currently focused on the upcoming US inflation indicators, which could influence future monetary policy decisions.