Gold Stays Above $5000 as Dollar Weakens

On Monday, gold held its position above the psychological $5,000 per ounce mark as investors focused on US interest rate policy. The weakening dollar made the precious metal more attractive to holders of other currencies.

Gold held its gains in spot trading, staying above the $5,000 per ounce mark on Monday, as the dollar weakened. Focus returned to the interest rate path. This occurred amid a decline in the dollar and renewed attention to the Federal Reserve's rate policy. The market was tracking signals regarding future credit decisions, which influenced demand for the precious metal as a hedge against inflation.

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