Gold scales 6-month peak on softer dollar

Gold prices climbed a six-month peak on Monday, supported by a weaker U.S. dollar and on bets that the Federal Reserve is done with its interest rate hike cycle, while the focus shifted to U.S. inflation data due later this week.

Spot gold was up 0.5% at $2,010.99 per ounce by 0758 GMT, after hitting its highest since May 16. U.S. gold futures rose 0.4% to $2,011.70.

“What’s moving gold at the moment is the lower U.S. dollar because of the recent soft data,” said Kyle Rodda, a financial market analyst at Capital.com.

London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.

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