Today's Edition
NEW YORK (REUTERS)
Gold extended gains on Monday to trade just above the $5,000-per-ounce level as the dollar dipped, while investors awaited a key US labour market report due later in the week to gauge the interest rate trajectory.
Spot gold rose 1.3% to $5,026.04 per ounce by 0333 GMT after a 4% climb on Friday. US gold futures for April delivery gained 1.4% to $5,046.10 per ounce.
The US dollar was at its lowest level since February 4, making greenback-priced metals cheaper for overseas buyers.
San Francisco Federal Reserve President Mary Daly said on Friday she thinks one or two more interest rate cuts may be needed to counteract weakness in the labour market.
Investors expect at least two 25-basis-point rate cuts in 2026, with the first one expected in June. Non-yielding bullion tends to do well in low-interest-rate environments.
Investors awaited the January US nonfarm payrolls data on Wednesday for more cues on the Fed's monetary policy path. The report was delayed from last week due to a four-day partial government shutdown that has ended since.
Spot silver climbed 4.3% to $81.11/ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.
Spot platinum edged 0.2% lower to $2,091.54 per ounce, while palladium gained 1% to $1,723.37.
