Gold rose on Monday as the dollar fell on uncertainty about how soon the Federal Reserve will raise interest rates and worries about the global economy reduced investor appetite for risk.
Spot gold rose to a near four-week high of $1,237.30 an ounce and was trading up 0.4 percent at $1,227.75 at 1353 GMT. It posted its biggest weekly gain in four months last week, up 2.7 percent. U.S. gold futures hit their highest since Sept. 17 at $1,238 an ounce earlier.
The metal has rebounded four percent from a 15-month low of $1,183.46 hit last week after strong U.S. jobs data fueled talk that U.S. interest rates could rise sooner rather than later.
The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!