Gold Rises as Investors Await Fed Decision
Spot gold rose 0.4 percent to $4,010.51 per ounce on Monday as softer oil prices eased inflation concerns. Markets now await the Federal Reserve policy decision later this week.
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Gold rose 0.4% to $4,010.51 per ounce on Monday morning, drawing relief from softer crude prices as investors awaited upcoming central bank decisions. The bounce follows a 4% decline on Friday, marking the steepest weekly drop since June for the precious metal. Higher borrowing costs typically diminish non-yielding bullion's appeal to investors.
