Gold prices edged higher on Monday, buoyed by a weaker U.S. dollar, as investors awaited clarity on U.S. trade policy and looked ahead to the Federal Reserve’s monetary policy decision later this week.
اضافة اعلان
As of 00:31 GMT, spot gold increased by 0.2% to $3,245.01 per ounce, while U.S. gold futures rose by 0.3% to $3,252.00 per ounce.
The U.S. dollar index dipped 0.1%, making gold more attractive to holders of other currencies.
Last week, China's Ministry of Commerce stated that the U.S. had repeatedly shown willingness to negotiate on tariffs, and Beijing welcomed further talks. Meanwhile, President Donald Trump reaffirmed he would not dismiss Fed Chair Jerome Powell, despite criticizing him as "too rigid" and reiterating his call for interest rate cuts.
Traders have scaled back expectations for a rate cut in June, following stronger-than-expected April job data from the U.S. Labor Department, which showed steady unemployment at 4.2%, signaling a balanced labor market.
Markets are now focused on the Federal Reserve's policy decision and speeches from Fed officials this week for insights into the future direction of interest rates.
Chinese markets are set to reopen on Tuesday, following the May Day holiday closure since May 1.
Among other precious metals:
Silver rose 0.1% to $32.02 per ounce.
Platinum dropped 0.5% to $954.88.
Palladium slipped 0.2% to $951.36.
