WASHINGTON (dpa-AFX) - Gold prices climbed higher on Monday despite a fairly strong dollar ahead of the Federal Reserve's monetary policy meeting that begins on Tuesday.
Rising tensions in the Middle East triggered some safe-haven buying.
The Fed, which is scheduled to announce its policy on Wednesday, is widely expected to hold rate unchanged, but the central bank's accompanying statement is in focus for clues about the likely timing of interest rate cuts.
The dollar index, which climbed to 103.82, eased to 103.70 subsequently, but still remained well above the previous close of 103.43.
Gold futures for February ended higher by $8.10 at $2,025.40 an ounce.
Silver futures for March ended up $0.379 at $23.251 an ounce, while Copper futures settled at $3.8790 per pound, gaining $0.0270.
The January jobs report will be published on Friday. Analysts expect job growth to slow from the prior month.
Elsewhere, the Bank of England is expected to keep interest rates on hold on Thursday.
Investors closely followed the developments on the geopolitical front. Three U.S. service members were killed and dozens wounded after an unmanned aerial drone attack on the U.S. forces stationed in Jordan near the Syrian border.
While Iran denied involvement in the attack, U.S. President Joe Biden has vowed that the U.S. will respond to the attack.
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