Gold Prices Rise as Dollar Weakens and Rate-Hike Bets Ease
Gold prices edged higher in Asian trading on Monday, supported by a weaker US dollar and US economic data that eased expectations of an interest rate hike in September.
The spot price of gold rose 0.3% to $4,388.62 an ounce, while US gold futures for December delivery gained 0.2% to $4,444.30.
The US dollar index fell 0.1%, making dollar-denominated gold cheaper for holders of other currencies.