Gold edges higher as dollar weakens and oil prices drop
Spot gold rose 0.2 percent to 4,338.69 dollars per ounce as a softer dollar and declining oil prices provided support for the metal. Investors are currently monitoring Middle East peace developments while awaiting critical U.S. inflation data to gauge the future path of interest rates.
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Gold rose 0.2% to $4,338.69 per ounce on June 9 as a weaker dollar and lower energy costs supported a rebound. The metal recovered from a two-month low hit during the previous session, while U.S. gold futures for August delivery remained steady at $4,363.90. These shifts suggest investors are repositioning for potential interest-rate cuts if easing oil prices and upcoming inflation data signal cooling price pressures.
