WASHINGTON (dpa-AFX) - Gold futures rose for a third session Monday, inching up to new yearly highs despite signs the Federal Reserve will raise interest rates in the next few months.
April gold added a scant 50 cents to settle at $1,258.80/oz.
The Federal Reserve should raise interest rates 'sooner rather than later', according to Dallas Fed President Rob Kaplan.
'It is my view that moving sooner rather than later will make it more likely that future removals of accommodation can be done gradually - that is, reduce the likelihood that the Fed will get 'behind the curve' and feel the need to remove accommodation more rapidly,' Kaplan wrote.
The economic calendar is packed this week, and numerous Fed officials are scheduled to speak, including Chair Janet Yellen Friday. A closely watched speech from President Donald Trump will take place Tuesday.
In economic news, the Commerce Department released a report showing a rebound in durable goods orders in the month of January.
The report said durable goods orders jumped by 1.8 percent in January after falling by a revised 0.8 percent in December. Economists had expected orders to climb by 1.7 percent.
Excluding a sharp increase in orders for transportation equipment, durable goods orders edged down by 0.2 percent in January following a revised 0.9 percent advance in December. Ex-transportation orders had been expected to rise by 0.5 percent.
A separate report from the National Association of Realtors unexpectedly showed a steep drop in pending home sales in the month of January.
NAR said its pending home sales index tumbled by 2.8 percent to 106.4 in January after climbing by 0.8 percent to a revised 109.5 in December.
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