Gold Edges Up on Weaker Dollar and Reduced Rate Hike Expectations

Gold prices rose slightly in early Asian trading on Monday, supported by a weaker US dollar and recent economic data that reduced expectations of a US interest rate hike next month.

According to Reuters, spot gold increased by 0.3 percent to $4,388.62 per ounce by 00:28 GMT, while US gold futures for December delivery rose 0.2 percent to $4,444.30.

Other precious metals also showed gains, with spot silver rising 0.8 percent to $65.19 per ounce, platinum increasing 0.4 percent to $1,755.40, and palladium gaining 1.2 percent to $1,329.