Gold prices edged higher on Monday, helped by a weaker U.S. dollar. However, the gains were limited because expectations for a U.S. interest rate cut have started to fade.
In the market, spot gold rose slightly by 0.3% to reach $4,505.86 per ounce. At the same time, U.S. gold futures for April delivery moved up by a similar amount, settling at $4,535.80. This comes after gold had already dropped sharply—around 14%—since the start of the month.
Other precious metals also saw gains.
Silver rose by 0.8% to $68.67, while Platinum jumped 2.5% to $1,909.45. Palladium recorded the biggest increase, climbing 3.2% to $1,420.63.
This movement comes at a time when global markets are dealing with rising inflation concerns. Higher energy and oil prices are adding pressure, making it less likely that the Federal Reserve will cut interest rates anytime soon.
In simple terms, gold is getting some support from a weaker dollar, but worries about inflation and interest rates are keeping prices from rising too quickly.
