Gold Nears Record High Levels

Gold hovered near its record high on Monday, as investors awaited a series of speeches from U.S. Federal Reserve officials and inflation data this week. This follows the central bank's recent interest rate cuts and hints at further reductions.

Spot gold rose 0.1 percent to $3688.76 per ounce by 02:17 GMT, after reaching a record high of $3707.40 last Wednesday. Meanwhile, U.S. gold futures for December delivery increased 0.5 percent to $3723.70.

Silver in spot transactions increased by 0.3 percent to $43.20 per ounce, nearing its highest level in 14 years. In contrast, platinum fell 0.4 percent to $1398.40, while palladium edged up by 0.1 percent to $1150.75.