Gold futures rose at the settlement of Monday, April 24th trading session, but closed below $2,000 levels.
Upon settlement, gold futures rose about 0.5%, or $9.30, to $1,999.8 an ounce.
Last week, gold prices fell below $2,000 an ounce, due to Federal Reserve officials' statements in support of continuing to raise interest rates.
According to CME FedWatch data, market expectations for a 25 basis point rate hike by the Fed next week are at 89%.
Janet Yellen, US Treasury Secretary, said last week that the need for the Federal Reserve to continue raising interest rates may disappear as a result of banks becoming more cautious and tightening lending restrictions after the collapse of two banks.
Although gold traded below $2,000 an ounce, a report by Kinesis Money revealed that gold is unlikely to record levels below $1,950 an ounce any time soon.
