Gold and silver prices continued their strong rise on Monday, with gold hitting its highest level since last April, supported by growing market expectations of a US interest rate cut this month, which boosted the yellow metal's appeal as a safe haven.
Spot gold rose 0.7% to $3,470.69 an ounce, while U.S. gold futures climbed 0.8% to $3,543.70.
As for silver, it jumped significantly, surpassing the $40 per ounce mark for the first time since September 2011, recording its highest level in 14 years.
Analysts attribute this rise to statements supporting monetary easing by Federal Reserve officials, along with the weakening of the US dollar due to the Court of Appeals ruling that deemed most of the previous tariffs illegal.
Investors are currently focused on the US jobs data due this week, which could determine the path of federal interest rates in the coming period.
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