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Gold prices rose on Monday, heading for their biggest monthly jump since July 2020, thanks to the decline in the dollar and bond yields, as well as the growing inflationary pressures that boost demand for the metal as well.
And the spot price of gold was up 0.1% to $ 1905.14 an ounce, while US gold futures increased 0.2% to $ 1908.80. Spot prices have risen about 7.7% this month.
Most markets are closed on public holidays in the US and UK today.
The dollar index fell 0.1% against its rivals, while the 10-year US Treasury bond yield fell to 1.593% on Friday, reducing the cost of holding non-interest-bearing gold.
And palladium rose 0.4% to $ 2837.38 an ounce, but it is on the verge of its first monthly decline in four months. And platinum advanced 0.4%, recording 1181.76 dollars.
Silver rose 0.1% to $27.91 and is on track for its biggest monthly gain since December.
