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Gold Rises as U.S. Dollar Falls

 Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the U.S. dollar index fell.

The most active gold contract for December delivery rose 12.50 U.S. dollars, or 0.65 percent, to close at 1,950.20 dollars per ounce.

Gold dropped nearly 3 percent last week on Federal Reserve Chairman Jerome Powell’s hawkish remarks.

Key U.S. inflation data due out this week include the U.S. consumer prices index (CPI) on Tuesday and the U.S. producer price index on Wednesday, which may shed some light on the Federal Reserve’s interest rate path.

The Federal Open Market Committee November meeting minutes will be released next week.

Silver for December delivery rose 7.70 cents, or 0.35 percent, to close at 22.358 dollars per ounce. Platinum for January delivery rose 18.00 dollars, or 2.13 percent, to close at 863.60 dollars per ounce.

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