WASHINGTON (dpa-AFX) - Gold prices rose to a record high on Monday and the futures contract settled higher, gaining for a third straight session, despite the dollar rebounding from early losses.
The dollar moved up thanks to upbeat U.S. retail sales data, and limited the yellow metal's upside.
The dollar index, which dropped to 105.84 in the European session, climbed to 106.20 in the New York session thanks to strong retail sales data.
Gold futures for April ended higher by $9.60 or about 0.41% at $2,365.80 an ounce
Silver futures for April settled higher by $0.396 or 1.4% at $28.651 an ounce, while Copper futures climbed to $4.3620, gaining $0.1035 or nearly 2.5%.
Data from the Commerce Department showed U.S. retail sales climbed by 0.7% in March after advancing by an upwardly revised 0.9% in February. Economists had expected retail sales to rise by 0.3% compared to the 0.6% increase originally reported for the previous month.
Traders remained concerned about geopolitical tensions and uncertainty over the timing and pace Fed rate cuts.
Iran on Saturday night unleashed a retaliatory strike against Israel, sending a volley of more than 300 uncrewed drones and missiles toward targets.
Tehran's attack, which the Israeli government reported caused limited damage, prompted the traders to reduce risk premiums.
Israel successfully navigated the attack due to advanced warning combined with strong missile defense in and outside its borders.
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