Gold prices rise in Asia as US rate hike expectations ease
Gold prices climbed in early Asian trading, supported by declining expectations of a US interest rate hike in October.
Key Takeaways
AIGold prices rose in early Asian trading on Monday, supported by easing expectations that the US Federal Reserve will raise interest rates this October, following the release of recent economic data.
Spot gold increased by 0.3% to $4,153.32 per ounce, while US gold futures for December delivery gained 0.5% to $4,182.40.
Other precious metals also gain
Silver prices climbed 1% in spot trading to $60.97 per ounce. Platinum rose 0.4% to $1,705.70, and palladium advanced 0.7% to $1,176.
The improvement in precious metal prices comes as investors monitor US interest rate policies and global economic developments.