WASHINGTON (dpa-AFX) - Gold prices edged higher on Monday amid concerns about rising inflation and prospects of a speedier pace of policy tightening by the Federal Reserve.
U.S. Treasury yields are rising as expectations that the Fed will raise interest rates faster in the months ahead have risen following last week's buoyant jobs data.
Data on U.S. inflation is due later this week. Investors are also looking ahead to the minutes of the Federal Reserve's latest monetary policy meeting.
Geopolitical tensions were also in focus, with the White House warning Russia could invade Ukraine any day.
The dollar is seeing a choppy ride today with traders looking for direction. The dollar index, which climbed to 95.63 in the Asian session, dropped to a low of 95.35 subsequently before recovering some lost ground. It is currently hovering around 95.55, up marginally from the previous close.
Gold futures for April settled at a near two-week high at $1,821.80 an ounce, gaining $14.00 or about 0.8%, the biggest single-session gain in percentage terms in nearly three weeks.
Silver futures for March ended higher by $0.601 at $23.076 an ounce, while Copper futures for March settled at $4.4625 per pound, down $0.0250 from the previous close.
Meanwhile, French President Emmanuel Macron has reportedly told Russian President Vladimir Putin at the start of talks in the Kremlin on Monday that he aimed to avoid war and build trust.
Mr. Macron told the Russian president he was seeking a 'useful' response 'that of course allows us to avoid war and to build bricks of trust, stability, visibility'. Mr. Putin has reportedly said Russia and France shared 'a common concern about what is happening in the security sphere in Europe'.
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