Spotgouden rose 1.3% to $ 3,631.66 per ounce, from 09:59 am Edt (1349 GMT). Bullion reached a record high of $ 3,636.69.
US Gold Futures for the delivery of December rose by 0.5% to $ 3,670.80.
The yellow metal could extend its momentum to $ 3,700-$ 3,730 in the short term, with short withdrawals that are probably seen as buying options, said Peter Grant, vice-president and senior metal strategist at Zaner Metals.
“Continue the softness of the labor market and the expectations of the ongoing reductions of the FED at the beginning of 2026 can offer persistent support for precious metal.”
Friday’s job report showed that the growth of employment in August greatly delayed. Traders now see a chance of 90% of a quarter-point reduction during the September meeting of the FED, with about a 10% chance of a larger 50-BPS NNE, according to the CME Fedwatch tool. Lower rates lower the alternative costs of the non-return of Bullion. The gold prices have so far increased by 38% this year, after having won 27% in 2024, reinforced by dollar softness, strong central bank accumulation, dovish monetary environments and increased global uncertainty.
The Central Bank of China expanded its gold buy streak to a 10th consecutive month in August, the official data on Sunday continued to see.
Benchmark 10-year-old US Treasury yields were now almost their lowest in five months.
Investors are now waiting on Wednesday in the American production data and consumer prices on Thursday for further instructions on the FED policy path.
“If the weakness continues in the American data, the continuous bullish momentum in gold would also have to be, because both the US dollar and the proceeds will fall further,” said Fawad Razaqzada, market analyst at City Index and Forex.com.
Conversely “If the American data exhibits the resilience of surprising weeks, it can ensure that gold corrects of these raised levels,” Razaqzada added.
Elsewhere, Silver Silver rose 1% to $ 41.39 per ounce. Platinum rose by 0.7% to $ 1,382.25 and Palladium won 2.1% to $ 1,134.56.
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