Gold futures soared on Monday on a weakening dollar and increased concerns over supply cuts from South Africa, the world's second-largest gold producer.

Gold for April delivery gained $4.40 to end at $926.70 an ounce on the New York Mercantile Exchange. On Friday, gold prices gained $12.30 to $922.30 an ounce.

In currency trading, the dollar traded in the red against major counterparts, slipping against the euro after the European Central Bank officials said they were not likely to raise inflation rates.

The dollar index, which tracks the performance of the greenback against a basket of other major currencies, edged down 0.1 percent to 76.560. Traders said the euro stabilized after Jean-Claude Trichet, the president of the European Central Bank said on Saturday he would not be following global trends to trim interest rates. The Federal Reserve and the Bank of England have already cut interest rates in a bid to combat signs of economic slowdown.

Other indexes tracking mining and metals shares ended mostly higher on Monday. The Chicago Board Options Exchange Gold Index edged lower by 0.2 percent at 186.69 points, while the Amex Gold Bugs Index rose 0.4 percent at 445.57 points. The Philadelphia Gold and Silver Index gained 0.6 percent at 182.38 points.

Gold warehouse inventories were slightly unchanged at 7.6 million troy ounces, down 96 troy ounces, as of late Friday, according to Nymex data.

Also on the Nymex, March silver gained 36 cents to $17.470 an ounce, while March palladium gained $2.55 to end at $443.40 an ounce.

Platinum for April delivery surged to a record $1,949 an ounce Monday. The contract soared $55.40 to end at $1,939.40 an ounce.

Anglo Platinum, world's biggest platinum producer, reported a 3.5 percent rise in 2007 net profit, as stronger metal prices offset production problems.

March copper gained 1.90 cents to end at $3.5585 a pound, boosted by concerns about declining supplies at the London Metal Exchange.