Gold Prices Rise as Rate-Hike Expectations Eased Amid Soft Dollar

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

The US dollar index fell 0.1 per cent, making gold more affordable for holders of other currencies.

An unexpected decline in July's nonfarm payrolls, coupled with mild consumer price inflation, has lowered the chance of a September rate hike to 33 per cent from 47 per cent last month.