LONDON (Reuters) - Rising gold on Monday as the dollar fell after weaker-than-expected US data, but the yellow metal remained near its lowest level in a month at a time when investors focused on comments by officials of the Federal Reserve (the US central bank) may give more marks the possible lifting of US interest rates and the pace.
The dollar was down slightly against a basket of currencies after a slight increase in consumer spending data showed the United States in February and decline of general inflation.
Opinion supports the weak US data that the Federal Reserve will raise interest rates gradually, including the form of pressure on the dollar and support gold.
Gold rose 0.2 per cent of online transactions to $ 1218.62 for ounce by 1253 GMT, after having touched the yellow metal the lowest level since Feb. 23 during the session at $ 1208.15 an ounce. Gold had dropped three percent last week, its biggest weekly loss since November.
All eyes to the President of the Federal Reserve Janet Yellen that talk about the US economy and monetary policy on Tuesday may give statements anticipated further signs on the number of times to raise interest rates and the expected timing of their occurrence this year.
Among other precious metals, silver rose in online transactions 0.6 percent to $ 15.23 an ounce, while palladium fell 0.6 percent to $ 573.30 an ounce while platinum did not score changed little to settle at $ 946.50 an ounce.
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