Gold prices climb to three-month high on weak dollar, Fed rate-cut expectations

Gold prices rose to a three-month high on Monday, driven by a weaker dollar and fresh signals over U.S. monetary policy. Spot gold gained 0.9 percent to $4,643.63 per ounce, according to Reuters, after climbing more than 5 percent last week. U.S. gold futures also advanced, adding 0.4 percent to trade at $4,699.10 per ounce. Investors have been pricing in expectations of further interest rate cuts by the Federal Reserve, a factor that has supported non-yielding assets such as bullion. Analysts said gold has benefited in recent weeks from safe-haven demand and declining real yields. They noted that if the metal holds above key technical levels, the upward momentum could continue in the near term. The rally comes as traders weigh signals from U.S. policymakers on the path of interest rates, with the dollar's weakness making gold cheaper for holders of other currencies.