Gold Climbs as Investors Look Forward to US Inflation Data

Gold prices rose on Monday, supported by a sharp retreat in the dollar as investors look forward to US inflation data that could sway the Federal Reserve to raise interest rates later in the year.

Spot gold jumped 0.5 percent to USD1,927.39 per ounce , while US gold futures rose 0.4 percent to USD1,950.80.

The US dollar dropped 0.5 percent and benchmark 10-year bond yields shed 0.3 percent, making non-yielding bullion more attractive for overseas buyers.

Elsewhere, spot silver jumped 0.7 percent to USD23.07 per ounce, platinum added 0.7 percent to USD898.55 after a 7 percent decline last week, and palladium edged 0.7 percent higher to USD1,206.21.

Source: Qatar News Agency