Gold Gains as Fed Rate Hike Prospects Fade
Spot gold rose 0.3% to $4,153.56 per ounce, with prices drifting higher as recent soft economic data reduced expectations of a Federal Reserve rate hike in October. However, a firmer dollar limited the gains.
Gold prices moved higher on Monday after recent softer economic data sharply reduced expectations for a Federal Reserve rate hike in October, though a firmer dollar capped gains. 56 per ounce by 0631 GMT. US gold futures for December delivery were also higher.