Commodities
Dollar Weakness Sends Gold Prices Higher as Rate Hike Odds Drop
Gold prices edged higher in early Asian trade on Monday, supported by a softer dollar and recent economic data that has curbed expectations of a U.S. interest rate hike next month.
Sot gold was up 0.3% at $4,388.62 per ounce, while U.S. gold futures for December delivery edged 0.2% higher to $4,444.30.
The U.S. dollar index was down 0.1%, making greenback-priced metals more affordable for other currency holders.
Markets are pricing in a 33% chance of a September rate hike, down from 47% a month ago, according to CME's FedWatch Tool.