Gold prices inch higher on Monday 

Gold prices rose slightly on Monday as the dollar eased from recent highs, though reduced expectations for further US Federal Reserve rate cuts and easing US–China trade tensions limited gains.

Spot gold increased 0.3 per cent to $4,014.59 per ounce at 0627 GMT, while US gold futures climbed 0.7 per cent to $4,025.10. The dollar index dipped 0.1 per cent, making bullion more attractive to non-US buyers.

Market analysts said the uptick reflected stabilising dollar strength in Asia rather than renewed safe-haven demand. Traders now see a 71 per cent chance of a Fed rate cut in December, down from over 90 per cent before Chair Jerome Powell’s hawkish remarks last week.

Easing trade tensions following a US–China agreement to lower tariffs have also curbed demand for gold. Investors are now awaiting US employment and manufacturing data for further policy clues.

Spot silver rose 0.6 per cent to $48.92 per ounce, platinum gained 2.3 per cent to $1,604.21, and palladium added nearly 1 per cent to $1,447.08.

Attribution: Reuters