Gold prices continue to rise in global markets!

Gold prices started the week higher amid a weaker dollar and falling oil prices. Investors are awaiting inflation data for clues about the US Federal Reserve’s (Fed) interest rate policy.

Spot gold rose 0.3% to $4,206.01 per ounce, while US gold futures for December delivery gained 0.3% to $4,230.40. Spot gold reached its highest level since October 2.

Tim Waterer, Chief Market Analyst at KCM Trade, said the weaker dollar and lower oil prices supported gold prices. Expectations of an agreement between Russia and Ukraine to halt attacks on energy infrastructure also influenced the market.

Investors are focusing on upcoming US inflation and retail sales data. These indicators could affect the Fed’s future interest rate decisions.

Among other precious metals, spot silver rose 0.5% to $61.12 per ounce, platinum gained 1% to $1,704.70, and palladium increased 1.2% to $1,161.81.