Gold prices buoyed by softer dollar

Gold prices rose on Monday as the dollar slipped, while investors have dialled down their expectations of further aggressive monetary policy tightening in the United States, reports Reuters.
Spot gold rose 0.4 per cent to $1,859.18 per ounce by 1008 GMT. US gold futures were 0.2 per cent higher at $1,861.50.
The dollar index hit a more than one-month low making bullion more attractive for buyers holding other currencies.
The underlying support for gold right now is also the renewed rally in crude oil prices that could result in inflation and impact economic growth, said Saxo Bank analyst Ole Hansen said.
"The trade of buying gold as a potential hedge against any policy mistake has most certainly not died down, and is still one of the reasons why gold continues to find support."
Investors now expect an eventual slowdown in the US monetary policy tightening after the Federal Reserve hikes interest rates in June and July.