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Commodities

Weaker Dollar Boosts Gold Prices Amid Rate Hike Uncertainty

Guavy AI Editorial Team
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Gold prices rose slightly in early Asian trading on Monday, supported by a weaker US dollar and economic data that reduced expectations of a US interest rate hike next month.

According to Reuters, spot gold increased 0.3% to $4,388.62 per ounce by 00:28 GMT, while US gold futures for December delivery rose 0.2% to $4,444.30.

The rise in gold prices was not limited to gold alone; other precious metals also saw gains. Spot silver rose 0.8% to $65.19 per ounce, platinum increased by 0.4% to $1,755.40, and palladium gained 1.2% to $1,329.

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