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New York, March 30 (QNA) – Gold prices continued their upward trend Monday for the second consecutive session, supported by increased demand for safe-haven assets. However, they are on track to record their worst monthly performance since 2008, driven by rising inflation expectations and rising interest rates.
Spot gold rose 0.9 percent to $4,531.21 per ounce, after hitting its lowest level since last November last week.
US gold futures rose 0.8 percent to $4,560.80.
On a monthly basis, gold is heading for its worst performance since 2008, having fallen by about 14 percent during March, affected by rising energy prices and increasing inflation fears, which have prompted markets to reassess the path of interest rates.
As for other precious metals, silver rose 1.8 percent to $70.85, platinum climbed 1.7 percent to $1,895.25, and palladium increased 2.9 percent to $1,417.26. (QNA)
