Gold rallied to a more than three-week high on Monday, supported by a weaker U.S. dollar that made bullion more attractive to holders of other currencies and encouraged fresh buying interest.
Spot gold rose 1.2 percent to $5,163.60 per ounce by 02:10 GMT, after earlier touching its highest level in over three weeks. The softer dollar index improved gold’s appeal as an alternative asset, helping extend the metal’s recent upward momentum.
U.S. gold futures for April delivery climbed 2 percent to $5,184.90, reflecting stronger sentiment in the futures market as traders positioned for further gains.
Other precious metals also advanced in tandem with gold. Spot silver surged 3.1 percent to $87.10 per ounce, hitting a more than two-week high as investors increased exposure to the broader precious metals complex. Platinum gained 1.2 percent to $2,182.60 per ounce, while palladium added 0.5 percent to trade at $1,753.75 per ounce.
The broad-based rise across precious metals underscores renewed investor demand amid currency movements and shifting market dynamics.
