Gold extended its recovery with a fresh high since June on Monday, as a weaker U.S. dollar and fading expectations of further Federal Reserve rate hikes supported demand for non-yielding bullion. Spot gold traded near $2,450 per ounce, up 0.8% on the day, after recovering from March lows below $1,900, with market-implied odds of a September hike falling to about 20% from nearly 40% a month earlier on the CME FedWatch tool; some analysts are watching $2,500 if the June high is sustained. Separately, earlier reporting placed spot gold as high as $4,525.79—its strongest level since June 2—before $4,512.19, with December U.S. futures at $4,569.80 after a more than 4% Wednesday surge, linked to the U.S. Treasury doubling liquidity-support buybacks of longer-dated debt, lower long-term yields, a subdued dollar, central-bank buying, geopolitical risk, Asian physical demand and gold-backed ETF inflows. Because those accounts give incompatible price levels and timing, both snapshots are retained rather than merged. Investors are watching U.S. inflation data, Fed commentary, the dollar, real yields, Treasury financing, central-bank flows and geopolitics, with silver, platinum and palladium also in focus.