Gold rises on softer Fed rate expectations
Gold prices edged up as receding expectations of a Federal Reserve interest rate hike countered pressure from a firm dollar and elevated Treasury yields. Traders pared bets for an October rate increase following softer September job growth data.
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Gold rose 0.7% to $4,168.89 per ounce on Tuesday morning, as receding expectations of a Federal Reserve rate hike countered pressure from a firm United States dollar. The advance follows September's softer-than-expected job growth figures. Investors are balancing easing monetary policy bets against elevated Treasury yields that continue to weigh on non-yielding bullion.
