Gold Rises Amid Dollar Weakness and Fed Decision Anticipation

Al-Sabah Al-Jadeed – Agencies:Gold prices saw a slight increase on Monday, supported by the decline in the U.S. dollar, as investors await more clarity on trade policies between the United States and its partners, as well as the Federal Reserve's monetary policy decision later this week.As of 00:31 GMT, spot gold rose 0.2% to $3,245.01 per ounce, while U.S. gold futures climbed 0.3% to $3,252.00 per ounce.The U.S. Dollar Index fell by 0.1% against a basket of major currencies, enhancing the appeal of gold for holders of other currencies.U.S. President Donald Trump stated he would not dismiss Jerome Powell as Federal Reserve Chair before the end of his term in May 2026, but described Powell as "very rigid," reiterating his call for interest rate cuts.Traders lowered their bets on a Fed rate cut in June, following U.S. Labor Department data showing that employers added more jobs than expected in April, with the unemployment rate remaining steady at 4.2%, indicating a continued balanced labor market.This week, market attention turns to the Federal Reserve's upcoming decision and speeches from several officials to assess the future path of monetary policy.As for other precious metals, spot silver rose 0.1% to $32.02 per ounce, while platinum fell 0.5% to $954.88, and palladium declined 0.2% to $951.36 per ounce.