Doha: Gold surged to set a fresh record high on Monday, buoyed by investors' heightened expectations of a dovish rate-cut path, ahead of remarks by multiple Federal Reserve officials and key inflation data later in the week. Spot gold rose 0.9% to $3,716.27 per ounce, after hitting a new record high of $3,719.65 earlier in the session.

According to Qatar News Agency, US gold futures for December delivery climbed 1.2% to $3,751.20. Spot silver rose 1.3% to $43.64 per ounce, a more than 14-year high. Platinum gained 1.1% to $1,419.65 and palladium rose 1.1% to $1,161.85.