Gold prices continued to break records on Monday after data showed U.S. inflation moderated in February, boosting bets the Federal Reserve will cut interest rates in June.
Federal Reserve Chairman Jerome Powell said on Friday that the latest US inflation data is in line with what we would like to see.
Traders expect a 69 percent chance that the Fed will cut interest rates in June, according to the CME Group's FedWatch tool.
Lower interest rates enhance the opportunity cost of holding gold.
Market movements
By 04:07 GMT, spot gold was up 1.33 percent at $2,262.43 an ounce, having hit a record high of $2,265.73 an ounce earlier in the session.
U.S. gold futures rose 1.98 percent to $2,282.55 an ounce, having hit a record high of $2,286.35 an ounce earlier in the session.
The dollar index fell 0.1 percent against a basket of rival currencies, making gold more attractive to holders of other currencies.
As for other precious metals, silver rose in spot transactions by one percent to $25.22 per ounce.
Platinum rose 0.6 percent to $913.85 an ounce.
Palladium rose 0.3 percent to $1,018.22 an ounce.
