Gold Gains 1% on US Rate Cut Bets, Renewed Purchases by China Central Bank

GOLD - JAKARTA. Gold prices climbed 1% on Monday as China's central bank resumed gold purchases after a six-month pause, while expectations for an interest rate cut at the Federal Reserve's meeting next week strengthened.

Spot gold gained 1% to $2,657.98 per ounce, as of 1103 GMT. U.S. gold futures added 0.8% to $2,679.70.