WASHINGTON (dpa-AFX) - Gold prices climbed to fresh record highs on Monday on safe-haven appeal amid lingering concerns about tariff threats and uncertainty about the outlook for global economic growth.
A subdued dollar helped lift gold prices. The dollar index, which was down in negative territory in the Asian session, recovered subsequently but stayed subdued, moving along the flat line.
The dollar's weakness was due to last week's data showing a drop in U.S. business activity and deterioration in consumer sentiment.
The week ahead will be defined by market reaction to U.S. President Donald Trump's policy moves on tariffs and immigration and the release of the Federal Reserve's preferred readings on consumer price inflation.
The dollar index was last seen at 106.50, down from previous close of 106.61.
Gold futures for February closed up $10.30 or about 0.35% at $2,947.90 an ounce.
Silver futures for February close down $0.401 or about 1.22% at $32.575 an ounce, while Copper futures for February dropped to $4.5170 per pound, down $0.0430 or 0.94% from previous close.
The focus this week is on U.S. Q4 GDP, data on the housing market, consumer confidence and key readings on personal income and spending for January.
Several Fed officials are speaking this week, with most of them likely to reiterate the cautious message on further interest-rate cuts.
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