Gold Prices Hit Three-Month High Amid Dollar Weakness and Inflation Fears

Gold prices surged to a three-month high on Monday, reaching $4,641.27 per ounce, as investors looked ahead to key US inflation data and a speech by Federal Reserve Chair Kevin Warsh later in the week.

The spot price of gold climbed 0.8% from its previous close, while US gold futures rose 0.4% to $4,697.70.

Analyst Tim Waterer attributed the move mainly to the weaker dollar and concerns over what higher yields could signal about economic conditions and policy uncertainty.

Markets will closely assess Warsh's comments for any change in the Federal Reserve's policy stance, with a balanced or cautious tone potentially leaving room for further gains in gold.