Gold prices surge as investors await Fed signals

Gold prices surged on Monday as investors awaited comments from Federal Reserve officials this week for further insights into the future trajectory of US interest rates.

Spot gold prices rose at 6:50 GMT by 1.03 per cent to $2,587.65 per ounce, compared to the previous closing price of $2,561.24, on Friday.

Meanwhile, US gold futures increased 0.83 per cent to $2,591.55, compared to Friday’s closing of $2,570.1.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama