- Gold prices rose on global stock exchanges today, Monday, with the decline in the yield on US Treasury bonds, while investors are awaiting economic data and statements from US Federal Reserve officials during the week to clarify the time frame for reducing US interest rates.
- Spot gold prices rose 0.2% to $2,324.36 an ounce, while US futures also rose 0.2% to $2,336.70 an ounce.
- The yield on the 10-year US Treasury note fell, last trading at 4.2496%, making non-interest-bearing gold more attractive to investors.
- Traders are awaiting the US personal consumption expenditures price index report, the Fed's preferred measure of inflation, due out on Friday, for further indications on the time frame for the rate cut and the amount of the cut.
- Investors are also awaiting comments from US Federal Reserve officials this week.
- Among other precious metals, spot silver rose 0.1% to $29.55 an ounce, platinum fell 0.2% to $990.30 an ounce, and palladium fell 0.1% to $947.50 an ounce.
