Gold resumed its rise for a sixth straight session on Monday, climbing to a 15-month high, as the dollar traded near its lowest level in eight month versus a basket of major currencies.
The precious metal hit a high of $1296.29 an ounce, while currently trading around $1294.58 from the opening at $1290.99.
The dollar index, which tracks the green currency’s movements versus a basket of six major currencies, dropped for a sixth straight sessions to hover around 92.87, the lowest in eight months.
The dollar rose slightly versus the yen after hitting an 18-month low of 106.12, where it is currently trading around 106.42.
Against the euro, the dollar resumed its fall for a sixth straight session after euro area manufacturing PMI data showed slight improvement to 51.7 in April from 51.6 in March.
The green currency has been under pressure since the Fed’s decision to hold interest rates in April, where the U.S. GDP data moved in line with the Fed’s cautious regarding raising the borrowing cost.
Late in the day, the U.S. ISM manufacturing PMI may signal an ease to 51.6 in April from 51.5 in March.
Japanese shares led Asian equity markets lower on Monday amid the strength of the yen and drop in oil prices.
Gold gained more than 3 percent the previous week, therefore marking its biggest weekly gain since February 12.
