Gold prices rose 0.4% to $3,287.29 per ounce on Monday, supported by a weakening U.S. dollar that hit its lowest level in over three years.
The precious metal has gained 5.3% this quarter as investors anticipate Federal Reserve rate cuts beginning in September.
Markets are closely watching upcoming U.S. jobs data, including Wednesday’s ADP report and Thursday’s non-farm payrolls, which could influence the Fed’s decisions on interest rates.
President Trump’s recent comments about preferring Fed leadership that supports lower rates have also contributed to gold’s strength.