India, May 6 -- Gold prices climbed higher on Monday as the dollar weakened and bond yields dropped amid rising prospects of an interest rate cut by the Federal Reserve in the third quarter.
Last week's data from the Labor Department that showed a smaller than expected addition of jobs in the U.S. in the month of April has raised expectations the U.S. central bank will consider an interest rate cut in the third quarter.
The dollar index dropped to 104.87, but recovered to 105.06 by mid afternoon, netting a small gain.
Gold futures for May ended higher by $22.60 or nearly 1% at $2,321.60 an ounce.
Silver futures for May ended up by $0.924 or about 3.5% at $27.369 an ounce. Copper futures climbed to $4.6150, gaining about $0.580.
On Frid...