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Commodities

Gold Edges Higher on Softer Dollar and Eased Rate Hike Expectations

Guavy AI Editorial Team
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Gold
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Gold prices are on the rise as investors weigh in on the latest economic data and its impact on US interest rates.

The precious metal gained 0.3% to $4,388.62 per ounce, while US gold futures for December delivery edged 0.2% higher to $4,444.30.

Market expectations of a September rate hike have eased, with the CME's FedWatch Tool now pricing in just 33% chance of such an event, down from 47% a month ago.

The softening dollar also contributed to gold's appreciation, making greenback-priced metals more affordable for other currency holders.

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