WASHINGTON (dpa-AFX) - Gold futures settled higher on Monday as the dollar remained subdued amid bets several central banks, including the U.S. Federal Reserve, will cut interest rates in the second quarter of this year.
The dollar index dropped to 103.73 around late morning, and was at 103.80 a little while ago.
Gold futures for April ended up $30.60 or about 1.5% at $2,126.30 an ounce, gaining for the third consecutive session.
Silver futures for May ended higher by $0.627 at $23.991 an ounce, while Copper futures for May settled at $3.8570 per pound, down $0.0045 from the previous close.
Last week's weak manufacturing and consumer sentiment data from the U.S. have raised the possibility of the Federal Reserve cutting interest rates in the foreseeable future.
Investors are awaiting a testimony by Fed Chair Jerome Powell and reaction to the release of the U.S. services PMI figures and the monthly non-farm payroll report.
Powell testifies Tuesday and Wednesday before House and Senate committees, a semi-annual exercise.
U.K.'s Spring Budget and the European Central Bank's monetary policy announcement are also in focus. The ECB is expected to freeze interest rates again amid a complex economic landscape.
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