WASHINGTON (dpa-AFX) - Despite a firm dollar, gold futures climbed higher on Monday, extending gains to a fifth straight session on hopes of more interest rate cuts by central banks, including the Federal Reserve. The yellow metal's rise was also due to safe-haven buying amid persisting tensions in the Middle East.
The dollar index climbed to 103.95, gaining about 0.45%.
Gold futures for October ended higher by $9.40 or about 0.35% at $2,723.10 an ounce, a record close.
Silver futures for October settled at a 52-week high of $33.869 an ounce, gaining $0.837 or about 2.53%.
Copper futures dropped to $4.3215 per pound, losing 0.0245 or about 0.56%.
Markets are looking ahead to the annual meeting of the International Monetary Fund and World Bank this week. Global finance ministers and central bank chiefs are set to discuss trade policies and tariffs.
On the political front, former President Donald Trump on Sunday overtook Vice President Harris for the first time in the Decision Desk HQ/The Hill election forecast this cycle.
The model predicts Trump has a 52% chance of winning the presidency while Harris has a 42% chance, as of Sunday.
A reading on U.S. manufacturing and services sector activity, data on durable goods orders, housing market, and the Federal Reserve's Beige Book on regional economic activity and speeches by several Fed officials are in focus this week.
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