ISLAMABAD: Gold prices climbed to their highest level in more than three months on Monday, as renewed buying interest and a weaker US dollar boosted the precious metal’s appeal.
According to international media reports, spot gold rose 0.5% to $4,627.42 per ounce. During the trading session, prices reached their highest level since May 15.
Gold has gained more than 5% over the past week, reflecting stronger investor demand amid growing attention to economic pressures and policy uncertainty.
US gold futures also edged higher, gaining 0.1% to $4,683.80 per ounce.
Among other precious metals, spot silver fell 0.3% to $68.76 per ounce. Platinum declined 0.5% to $1,868.03, while palladium slipped 0.3% to $1,345.87 per ounce.
Market analysts said the outlook for gold remains bullish, with renewed buying interest providing support. They noted that gold prices are being driven in large part by weakness in the US dollar, while investors are closely monitoring elevated bond yields for signs of underlying economic pressures and further policy uncertainty.
The latest gains underscore gold’s continued appeal as investors seek a hedge against economic and financial uncertainty.
