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Singapore, March 30 (QNA) – Gold prices edged up on Monday as the dollar softened, but gains were capped by a surge in energy prices that fueled inflation worries and further dimmed expectations for US Federal Reserve interest rate cuts this year.
Spot gold rose 0.3% to $4,505.86 per ounce, while US gold futures for April delivery gained 0.3% to $4,535.80.
The US dollar eased, making dollar-denominated commodities more affordable for holders of other currencies.
Gold has fallen more than 14% so far this month, marking its steepest monthly decline since October 2008, pressured by the US dollar, which has gained more than 2% since the US-Israeli war on Iran began on February 28.
Spot silver rose 0.8% to $68.67 per ounce. Spot platinum gained 2.5% to $1,909.45 and palladium rose 3.2% to $1,420.63. (QNA)
