Gold Rises on Soft US Inflation Data
Gold prices edged higher as softer US inflation data reduced bets for a Federal Reserve rate hike. Investors now await upcoming US nonfarm payrolls reports for further monetary policy clues.
Xurve View
Insights:
Xurve View
Gold rose 0.2% to $4,165.29 per ounce on Thursday afternoon after softer-than-expected inflation data reduced Federal Reserve rate-hike expectations. The uptick follows a 6% decline in bullion prices during September. Markets now price in a 31% chance of an October rate increase, down from 45% prior to the release.
