Gold price rises as precious metals extend rally ahead of key US data

Gold price increased nearly 1% on Monday, continuing its upward momentum after Friday’s substantial 4% gain as investors await delayed U.S. economic reports.

The precious metal traded higher throughout the session, building on last week’s significant advance that pushed prices to their highest level in several weeks amid broader market uncertainty.

Silver showed even stronger performance, climbing nearly 5% on Monday after surging almost 10% during Friday’s trading session, reflecting heightened investor interest in precious metals.

Market participants are now focusing on key U.S. economic indicators scheduled for release later this week, including delayed jobs and inflation data that could provide insights into the Federal Reserve’s future monetary policy direction.

The precious metals rally comes as traders reassess economic growth prospects and potential interest rate trajectories, with the upcoming economic reports expected to influence market sentiment and trading decisions in the near term.