Gold approached $1,570 an ounce, extending a rally to a record, on bets that the dollar will extend a slump, enhancing the allure of the metal as a store of value. Silver posted for the biggest monthly gain in 28 years.
The greenback headed for the fifth consecutive monthly decline against a basket of six major currencies. The Federal Reserve signaled this week that borrowing costs will remain at a record low for an extended period. Gold capped the biggest monthly gain since November 2009.