Gold Edges Higher on Weaker Dollar and Eased Rate Hike Expectations

The price of gold inched higher in early Asian trade on Monday, boosted by a softer US dollar and recent economic data that reduced expectations of a US interest rate hike next month.

Spot gold rose 0.3% to $4,388.62 per ounce as of 0028 GMT, while US gold futures for December delivery increased 0.2% to $4,444.30.

The decline in the US dollar index by 0.1% made greenback-priced metals more affordable for holders of other currencies.