Gold prices firmed on Monday, supported by a weak U.S. dollar, as markets awaited Donald Trump's return to the White House and his inauguration speech later in the day for hints on the impact of his upcoming policies on the economy and rate-cut outlook.

Gold prices firmed on Monday, supported by a weaker US dollar, as markets awaited Donald Trump's return to the White House and his inauguration speech

The recent price behaviour of gold has underlined its importance as a safe-haven asset even at a time of rising currencies and a shifting macroeconomic scenario. Gold prices on COMEX had touched a near one-month high on Friday on uncertainty over the monetary policy of the Federal Reserve and over US President-elect Donald Trump’s tariff

Gold firmed on Monday on a softer dollar as investors awaited Donald Trump's inauguration speech later in the day for insights into his policies that are expected to provide clarity on the inflation outlook and Federal Reserve's future rate decisions.