Gold inched higher on Monday as a weaker dollar and US Treasury yields bolstered its appeal, while investors awaited key data this week to assess the pace of economic recovery in the United States.
Spot gold was up 0.1 per cent at $1,882.61 per ounce at 10:25 am EDT (7:55 pm IST), having last week reached its highest since Jan. 8 at $1,889.75. US gold futures gained 0.3 per cent to $1,881.50.
Gold in New Delhi gained Rs 95 to Rs 48,015 per 10 gram amid a positive global trend and rupee depreciation, according to HDFC Securities. In the previous trade, it had closed at Rs 47,920 per 10 gram.
A tick lower in the dollar and U.S. yields is acting in gold's favour, Bob Haberkorn, senior market strategist at RJO Futures said, adding stronger equity markets were providing a counterweight.