Gold closes about 2% higher, logs fresh record high

Gold futures rose on Monday, to continue the strong gains, and post a new record high above the $1,900 psychological barrier.

Data showed today that the US durable goods orders index rose by 7.3% in June, beating forecasts of 7%.

The Federal Reserve will launch its regular meeting on Tuesday, to discuss monetary policy, with expectations of keeping the interest rate unchanged.

The Fed had projected previously to keep interest unchanged near zero, and ruled out any rate hikes until 2022.

The dollar index fell against a basket of currencies by 0.8% to 93.6 points as of 19:27 GMT, after it hit an intraday high of 94.6 and a low of 93.3.

Gold August futures rose 1.8% or $33.5, to close at $1,931 an ounce, with a day high of $1,941.9 and a low of $1,899.