Gold Remains Above $1220 on Sluggish U.S. Data

Gold was trading close to a three-month high on Monday, as more soft U.S. data stoked expectations the Federal Reserve would not hike interest rates soon.

Spot gold was little changed at $1,222.50 an ounce by 0023 GMT, not far from a February-high of $1,227.04 that was matched last week.  As of Friday, gold has risen for four straight days in its longest winning streak since March.

The metal has been supported in recent days by sluggish U.S. economic data, which has hurt the dollar and altered expectations regarding the Fed’ monetary policy.