Gold hits three-month high

Gold prices climbed to their highest level in over three months on Monday as a softer US dollar and pre-data positioning lifted bullion demand ahead of Federal Reserve policy signals.

Spot gold rose roughly 0.9% to $4,649.08 per troy ounce, while US gold futures reached $4,706.20. Bullion gained fresh upward momentum after the US Treasury expanded its long-term sovereign bond buyback program, weighing on the greenback.

Investors are now focused on Wednesday's core PCE price index and Federal Reserve Chair Kevin Warsh's upcoming address at the Jackson Hole economic symposium on Friday. Elsewhere, spot silver traded near $68.93 an ounce, platinum advanced to $1,880.17, while palladium retreated to $1,344.35.

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