NEW YORK: Gold prices advanced on Monday, supported by continued worries about rising US government debt and fading expectations of an immediate Federal Reserve rate hike, although a firmer dollar limited gains.
Spot gold rose 0.4 percent to USD4,159.89 per ounce by 1138 GMT. US gold futures for December delivery added 0.64 percent to USD4,188.70. In August, total US debt topped USD40 trillion for the first time, drawing fresh warnings that a fiscal crisis is brewing. The US dollar index rose 0.3 percent, making dollar-denominated metals more expensive for holders of other currencies.
Among other metals, silver jumped 2.3 percent to USD61.7967 per ounce, platinum gained 1.7 percent to USD1,727.82 and palladium added 1.1 percent to USD1,181.18.