Gold prices climbed for a third straight session on Monday, as bullion held onto safe-haven gains from elevated tensions in the Middle East and after U.S. producer prices data last week renewed bets for an early rate cut by the Federal Reserve.* Spot gold was up 0.3% at $2,054.73 per ounce, as of 0228 GMT, after marking its biggest daily gain since Dec. 12 on Friday.*
Gold traded in the green on Monday in the early trade extending gains for the third straight session riding on tension in the Middle East. The Dollar Index’s (DXY) weakness further aided its cause with the US producer price data last week renewing bets for an early rate cut by the Federal Reserve and thus triggering a slide in the greenback. Intraday Trading Strate