Gold Rises on Fading U.S. Rate-Hike Bets, Stronger Dollar Caps Gains
Gold prices edged higher in early European trading as soft U.S. economic data reduced expectations of a Federal Reserve rate hike in October. However, gains were limited by a stronger dollar. New York futures rose 0.7% to $4,189.60 a troy ounce, with markets pricing in less than a 20% probability of a hike.
S. economic data sharply reduced expectations for a Federal Reserve rate hike in October, although a stronger dollar limited the advance. 60 a troy ounce. Markets are now pricing in less than a 20% probabil…