Gold rises slightly as softer oil prices ease inflation
Gold prices edged higher in early trade as softer oil prices eased inflation concerns. Investors awaited US midterm election results and upcoming labour market data for policy cues.
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Xurve View
Gold spot prices rose 0.2% to $3,934.75 per ounce during early Asian trade on Wednesday as softer crude markets eased inflation concerns. The gains come as investors await United States midterm election results and crucial labour market data for policy cues. Lower energy costs are reinforcing expectations that the Federal Reserve may moderate its monetary tightening path.
