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Gold edges higher on softer oil; Fed rate outlook in focus
Gold prices edged higher on Monday as softer oil prices offered support, while investors assessed the chances of a Federal Reserve interest rate hike later this year and looked for fresh signals on the US central bank’s policy trajectory. Spot gold rose 0.3% to $4,175.60 per ounce by 0259 GMT, while US gold futures for December delivery gained 0.4% to $4,196.40. “Gold is posting a modest rise to start the week. The metal is responding positively to the softer tone in oil prices from an inflation standpoint,” said Tim Waterer, chief market analyst at KCM Trade. “In the near term, a more s...
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