Gold Sees Gain as Dollar Weakens Amid Reduced Fed Rate Hike Expectations

Gold prices rose on Monday, extending their two-week winning streak after weaker US retail sales and softer consumer sentiment weighed on the dollar and reduced expectations of a Federal Reserve interest rate hike.

The SPDR Gold Shares ETF (GLD) saw gains as investors pared back bets on a rate increase. Weaker US retail sales and softer consumer sentiment reported last week were among the factors contributing to this shift in market expectations.

Gold futures have been gaining ground over the past two weeks, with Monday's advance being the latest in this trend. The reduced expectation of a Fed rate hike has led to a decrease in the value of the dollar, making gold more attractive as an investment option for some investors.