With gains driven by a pause in the dollar's rally, while investors await comments from the Federal Reserve officials for clarity on the interest rate trajectory.

Spot gold rose 1% to $2,587.83 per ounce by 0917 GMT, moving away from a two-month low hit on Thursday. U.S. gold futures were up 0.9% at $2,592.20.

"President Trump's inauguration is likely to see an ongoing strengthening of the USD (U.S. dollar), which is negative for gold in the short to medium term. However, as his stated policies are likely to be significantly inflationary in the long term, this will benefit gold," said Michael Langford, chief investment officer at Scorpion Minerals.

Gold prices rebounded on Monday, having posted losses in the previous six sessions

Nov 18 2024