Gold edges higher as softer dollar offsets rate concerns

Gold prices edged higher on Monday as a softening dollar provided a brief respite for the metal, though gains were capped by a surge in energy costs that has clouded the outlook for interest rate cuts in the United States.

Spot gold rose 0.3% to $4,505.86 per ounce, while U.S. gold futures for April delivery similarly gained 0.3% to reach $4,535.80. The easing of the dollar has made gold more affordable for international buyers, yet the asset remains on track for its steepest monthly decline since 2008, having dropped more than 14% in March.