Gold prices climbed on Monday as investors sought secure investments amid growing uncertainty in global financial markets.
Spot gold gained about 1.3% to trade near $5,349 per ounce, touching its highest level in more than four weeks during early trading. US gold futures also moved higher, rising over 2% to around $5,362 per ounce.
Analysts said increased market volatility and economic uncertainty boosted demand for gold, which is traditionally seen as a safe investment during uncertain periods. Strong investor interest helped extend bullion’s upward momentum seen throughout the year.
However, gains remained limited as the US dollar strengthened slightly, making gold more expensive for international buyers. Gold has already recorded significant gains in recent months. This rise has been supported by continued central bank purchases and strong inflows into exchange-traded funds. Investors are also encouraged by expectations of easier monetary policy in major economies.
Market participants are now closely watching upcoming US economic data. Key indicators include employment figures and inflation numbers. These reports could influence interest rate expectations and affect future movements in precious metal prices.
Meanwhile, other precious metals showed mixed performance. Silver edged lower, platinum remained largely steady, while palladium posted modest gains.
