Commodities
Gold Prices Edge Up as Dollar Weakens Ahead of Inflation Data
Gold prices have slightly increased as the US dollar weakened. The spot gold price rose by 0.3% to $4,418.79 per ounce at 0048 GMT. U.S. gold futures for December delivery were down 0.3% at $4,464.80.
The dollar's decline has made gold more affordable for holders of other currencies. The US dollar index slipped by 0.3%, which is a positive sign for gold prices.
Investors are closely watching the upcoming inflation data releases on Thursday and Friday. The producer price index data will be released on Thursday, while the consumer price index data is scheduled for Friday.