WASHINGTON (dpa-AFX) - Gold prices climbed higher on Monday, hitting a two-week high in the process, as the dollar fell sharply and bond yields dropped amid expectations the inflation data, due on Tuesday, will show drop in consumer prices in the month of August.
The dollar index dropped to 107.81 in the Asian session, and despite recovering some ground subsequently, remains deep down in negative territory at 108.10, down 0.83% from the previous close.
Gold futures for December ended higher by $12.00 or about 0.7% at $1,740.60 an ounce, the highest settlement in two weeks.
Silver futures for December ended higher by $1.093 at $19.860 an ounce, while Copper futures for December settled at $3.6105 per pound, up $0.0425 from the previous close.
The U.S. inflation data due tomorrow, is expected to show a continued slowdown in the annual rate of consumer price growth to 8.1% in August from 8.5% in July.
Meanwhile, the annual rate of growth by core consumer prices, which exclude food and energy prices, is expected to tick up to 6% in August from 5.9% in July.
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