WASHINGTON (dpa-AFX) - Gold prices climbed higher on Monday, rising for an eighth straight day, although the upside was just modest as investors awaited crucial U.S. consumer and producer prices data for more clarity about the Federal Reserve's interest rate moves.
The dollar index advanced to 102.93 before paring some gains. At 102.85, the index was up 0.13% a little while ago.
Gold futures for April ended higher by $3.10 at $2,188.60 an ounce, still holding near record highs.
Silver futures for May ended up $0.166 at $24.715 an ounce, while Copper futures for May settled at $3.9285 per pound, gaining $0.0370.
After the Labor Department's jobs data offered conflicting signals on the U.S. economic and rate outlook, investors now await the release of key inflation data this week.
The data on consumer price inflation in the month of February is due on Tuesday. Economists expect consumer prices to climb by 0.4% in February after rising by 0.3% in January.
Core consumer prices, which exclude food and energy prices, are expected to rise by 0.3% in February following a 0.4% increase in January.
The annual rate of consumer price growth is expected to come in unchanged from the previous month at 3.1%, while annual core consumer price growth is expected to slow to 3.7% from 3.9%.
While the Fed is widely expected to leave rates unchanged at its monetary policy meeting next week, the data could impact expectations regarding when the central bank will eventually lower rates.
Data on producer price inflation, retail sales, industrial production and consumer sentiment are also due this week.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
