Gold up as dollar slips after US data; Fed speeches eyed

Gold edged up on Monday, as the dollar retreated after weaker-than-expected US data, but stayed close to a one-month low with investors focused on speeches by Federal Reserve officials that could give more clues on potential interest rate increases.

Spot gold was up 0.3 per cent at $1,219.56 an ounce by 2:47 p.m. ET (1847 GMT), after touching a session low of $1,208.15, its cheapest since Feb. 23. The metal lost 3 per cent last week, its biggest weekly loss since November on speculation that the next US rate increase could come as soon as next month. ]

Spot silver gained 0.4 per cent to $15.20 an ounce, palladium fell 1.4 per cent to $565.97 and platinum was down marginally at $944.1 an ounce.

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Posted in: Indian Market Tips