Commodities
Weaker Dollar Lifts Gold Prices Amid Reduced Fed Rate Hike Bets
Gold prices rose on Monday due to a weaker US dollar and reduced expectations for a US interest rate hike next month. Spot gold increased by 0.4% to $4,391.07 per ounce as of 0248 GMT.
The US dollar index fell by 0.1%, making greenback-priced metals more affordable for other currency holders. This led to higher prices for gold and other precious metals.
US gold futures for December delivery edged up 0.3% to $4,448.10. Other precious metals also gained value, with spot silver rising by 1.4% to $65.53 per ounce, platinum climbing by 0.3% to $1,752.36, and palladium gaining 1.6% to $1,333.35.