Gold prices inched higher on Monday, supported by a weaker U.S. dollar, as investors awaited greater clarity on U.S. trade policy and the Federal Reserve’s upcoming monetary policy decision later this week.
As of 00:31 GMT, spot gold rose 0.2% to $3,245.01 per ounce, while U.S. gold futures climbed 0.3% to $3,252.00 per ounce, reports Al-Rai daily.
The U.S. dollar index slipped 0.1% against a basket of major currencies, making gold more attractive to holders of other currencies.
In Asia, Chinese financial markets are set to reopen on Tuesday following the Labor Day holiday, which began on May 1.
Among other precious metals, spot silver gained 0.1% to $32.02 per ounce. Platinum fell 0.5% to $954.88, while palladium dipped 0.2% to $951.36.
