Key Points
(Reuters) Gold prices were anchored near a two-month peak on Monday, following last weeks tepid U.S. economic data, which solidified bets for the Federal Reserves first interest rate cut of the year in June...
U.S. gold futures fell 0.2% to $2,091.50...
Weaker-than-expected U.S. economic data last week pushed down U.S. real interest rates and this was the driver of the latest gold price rally, said UBS analyst Giovanni Staunovo...
Gold prices surged by approximately $50 over the course of last week, momentum fueled by disappointing U.S. manufacturing and construction spending figures as well as a reduction in price pressures, as indicated by the Federal Reserves preferred inflation gauge...
Meanwhile, Londons gold price benchmark hit an all-time high of $2,083.15 per troy ounce at a morning auction on Monday, surpassing the previous record of $2,078.40 set on Dec. 28, the London Bullion Market Association (LBMA) said.. Spot platinum rose 1% to $895.80 per ounce and palladium gained 0.5% to $960.63..
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