Market participants are now awaiting the release of the US consumer price index for February, scheduled for Wednesday, as well as the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge, due on Friday.

Among other precious metals, spot silver rose 3 per cent to $89.60 per ounce. Platinum gained 1.2 per cent to reach $2,208.16, while palladium edged up 0.2 per cent to $1,693.84.