Ammon News - Gold prices hit a six-week high on Monday as a softer dollar and early risk-off sentiment set the tone, with investors focused on a potential U.S. rate cut later this month, while silver touched a record high.

Spot gold rose 0.2% to $4,240.54 per ounce as of 0401 GMT after touching its highest since October 21. U.S. gold futures for December delivery gained 0.5% to $4,276.00.

Silver jumped 2% to $57.48 per ounce after earlier hitting an all-time high of $57.86.

The U.S. dollar fell to a two-week low, making greenback-priced bullion cheaper for holders of other currencies.

U.S. stock futures were lower in Asian trade, while among cryptocurrencies, bitcoin fell 3.6% to $87,881.82 and ether dropped 5% to $2,871.59.

Among other precious metals, platinum rose 1.3% to $1,694.70, while palladium gained 2.1% to $1,482.45.

Reuters