Gold Futures Recover as US Dollar Eases, Oil Prices Drop
Gold futures are attempting a recovery, supported by a weaker U.S. dollar and softer oil prices. Lower expectations for a Federal Reserve interest-rate increase in October are also providing a tailwind for bullion.
S. dollar pulls back from yesterday's 18-month high. Kaynat Chainwala of Kotak Neo said in a note that softer oil prices today are also giving bullion an additional tailwind. She added that lower expectations for a Fed October interest-rate increase are also supportive.