Gold Climbs as US Rate Hike Bets Weaken

Gold prices edged higher in early Asian trading on Monday, driven by easing expectations of a US Federal Reserve rate hike this month. Spot gold climbed 0.3% to $4,153.32 an ounce, while US gold futures for December delivery rose 0.5% to $4,182.40. The shift in market sentiment followed softer economic data, which dampened speculation about aggressive monetary policy tightening.

Other precious metals also saw gains. Spot silver surged 1% to $60.97 an ounce, platinum increased by 0.4% to $1,705.70, and palladium advanced 0.7% to $1,176. The broader rally in precious metals reflects investors' shifting focus away from rate hike concerns.