WASHINGTON (dpa-AFX) - Gold prices rose on Monday to hold above two-week lows reached last week as the dollar index declined against major peers.
Spot gold rose 0.9 percent to $1,659.23 per ounce, while U.S. gold futures were up 1 percent at $1,664.60.
Gold prices fell about 3 percent last week, marking their first weekly loss in three weeks, and the largest since mid-August amid signs that the Federal Reserve will continue to raise rate aggressively to tame inflation.
The dollar dipped on improved risk sentiment as investors awaited clarity on U.K.'s fiscal plan.
British new finance minister Jeremy Hunt will lay out details of some of the government's tax plans later today.
The announcement comes two weeks early after a series of abrupt U-turns by the government on its mini budget failed to calm worries about its economic credibility.
Investors also await a slew of U.S. data including reports on industrial production, manufacturing, housing starts and existing home sales this week for fresh insights on the health of the world's largest economy.
A slew of Fed officials including Neel Kashkari, Charles Evans and James Bullard will give speeches this week.
On Saturday, Federal Reserve Bank of St. Louis President James Bullard left open the possibility that the central bank would raise interest rates by 75 points at the upcoming meetings in November and December, adding that it was too soon to make a call.
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