Gold prices climbed on Monday as the US dollar softened, driven by renewed concerns over the Russia-Ukraine conflict. The geopolitical tensions fueled safe-haven demand, pushing gold closer to recent highs while investors evaluated the global implications of escalating unrest.
The weakening of the dollar index, which measures the greenback against six major currencies, provided additional support to gold, making the metal cheaper for holders of other currencies. Analysts noted that ongoing uncertainty in Eastern Europe continues to underpin demand for precious metals as a hedge against market volatility.
Traders are closely monitoring developments, with gold seen as a potential barometer for investor sentiment amid geopolitical risks. Markets also remain focused on upcoming economic data, which could impact currency and commodity movements in the near term.
