Gold Prices Surge on Weaker Dollar and Lower Interest Rate Expectations

Gold prices have risen for the second time in the global market this month due to a weaker US dollar and expectations that the Federal Reserve may not raise interest rates next month, as reported by Reuters.

The spot gold price rose 0.5% to $4,398.58 per troy ounce on Monday (August 17) at around 4:32pm Bangladesh time, while US gold futures for December delivery gained 0.4% to reach $4,455.50 per ounce.

Ole Hansen, head of commodity strategy at Saxo Bank, said that weaker-than-expected inflation and employment-related data have reduced expectations of further interest-rate increases, which could lead to the Federal Reserve potentially cutting interest rates in a future policy decision.