Slight Rise in Gold Prices Supported by Dollar Weakness

Gold Prices See Slight Increase Amid Dollar Decline

Gold prices experienced a modest rise this Monday in international markets, buoyed by a weakening dollar. However, these gains remain limited due to ongoing concerns about inflation and reduced expectations for interest rate cuts by the U.S. Federal Reserve.

Increase in Spot Gold and Futures Contracts

Spot gold rose by 0.3% to reach $4,505.86 an ounce. Similarly, U.S. gold futures for April delivery also increased by 0.3%, settling at $4,535.80.

Impact of the Dollar’s Retreat

This increase is largely attributed to the decline of the U.S. currency, making gold more appealing to investors using other currencies, despite upward pressures from rising energy prices.

Significant Monthly Decline

Throughout March, gold recorded a drop of over 14%, marking its most substantial monthly decline since October 2008. This trend can be attributed to current geopolitical tensions and the strengthening of the dollar observed since early February.

Other Precious Metals on the Rise

In addition, other precious metals have also seen gains: silver reached $68.67 an ounce (+0.8%), platinum rose to $1,909.45 (+2.5%), and palladium climbed to $2,420.63 (+3.2%).