Gold rises on hopes for Fed rate cut in June, softer dollar

WORLD CAPITALS / WAM

Gold prices rose on Monday as renewed bets that the US Federal Reserve would begin cutting interest rates in June and a softer dollar lifted bullion’s appeal, Reuters said. Spot gold was up 0.4% at $2,172.09 per ounce, as of 0350 GMT. Also, US gold futures climbed 0.6% to $2,173.40 per ounce. Spot silver gained 0.2% to $24.71 per ounce, platinum rose 1% to $902.60 and palladium climbed 1.4% to $999.79.

Leave a Reply

Send this to a friend