Gold prices climb over 1% as oil falls, US data awaited
Gold rose more than 1% as oil prices declined, with investors awaiting key US inflation data and signals on monetary policy.
Key Takeaways
AIGold prices rose by more than one percent on Monday, supported by a drop in oil prices that eased inflation concerns.
Investors are awaiting the release of key US inflation data, as well as new signals from the Federal Reserve regarding monetary policy outlook.
Spot gold gained 1.6% to reach $1,129.69 per ounce, while US gold futures for December delivery also rose 1.6% to $1,139.
Among other precious metals, spot silver increased 2.8% to $53.31 per ounce, platinum rose 1.6% to $1,556.14, and palladium was up 2.1% at $1,044.28.