Gold prices rose on Monday, hovering near their all-time high, supported by a decline in the dollar and increasing expectations that the Federal Reserve is likely to continue cutting interest rates later this year.
Spot gold increased by 0.5% to $3,776.72 an ounce, after the precious metal had reached a record level of $3,790.82 last week. Meanwhile, U.S. gold futures for December settled at $3,806.20.
In terms of other metals, silver rose 0.6% in spot trading to $46.26 an ounce. Platinum increased by 2.2% to $1,602.45, while palladium gained 0.8% to $1,279.68 an ounce.
