Gold Prices Rise More Than 1 Percent on Rising Demand

Gold prices rose more than 1 percent at the close Monday, recording their highest level since August 2, supported by rising demand, while investors await US inflation data this week. The price of gold in spot transactions increased 1.5 percent to $2,468.25 per ounce, while US gold futures rose 1.2 percent to $2,504. As for other precious metals, silver rose 1.8 percent to $27.94 per ounce, platinum increased 2.2 percent to $942.20, while palladium rose 1.7 percent to $919.36. Investors are awaiting the release of the US producer price index on Tuesday, followed by the consumer price index the day on Wednesday, for more clarity on inflation. Source: Qatar News Agency