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Commodities

Gold Prices Climb on Easing Inflation and Weaker Dollar

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Gold prices rose on September 3 due to easing inflation and a weaker US dollar. The COMEX gold futures traded 1.19% higher to $4,467.20 per ounce, while silver inched 1.29% to $66.30 per ounce.

Market participants are pricing in the impact of a tighter rate outlook, keeping pressure on gold. This week's US Non-Farm Payrolls and Unemployment data will be crucial for the Federal Reserve's policy decisions.

Commodities Analyst at Motilal Oswal Financial Services, Manav Modi, stated that gold prices held near $4,400 after rebounding around 1% in the previous session. He added that easing energy-driven inflation concerns and a weaker US dollar provided support to bullion.

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