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Gold gains on softer oil prices; Fed decision in focus
Gold prices edged higher on Monday as softer oil prices tempered inflation concerns, while investors awaited the Federal Reserve’s policy decision later this week. Spot gold rose 0.4% to $4,009.87 per ounce by 0342 GMT, after hitting its lowest level since mid-July in the previous session. Bullion posted a 4% weekly fall on Friday, its steepest weekly decline since June. US gold futures for December delivery gained 0.4% to $4,023.50. “The jump that we’ve seen is mostly symptomatic of the kind of relief provided by a lower oil price, but one that could easily be capped as markets position for t...
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