Gold rises as oil and dollar weaken, with US inflation data in focus
Gold prices increased as the US dollar and oil prices weakened, with investors awaiting upcoming inflation data. Market analysts are monitoring Federal Reserve policy signals regarding potential interest rate adjustments.
Why it matters
Fluctuations in gold and oil prices serve as key indicators for global economic stability and investor sentiment regarding US monetary policy.
Washington, Oct. 12 (SANA) Gold prices rose on Monday, supported by a weaker US dollar and lower oil prices, as investors awaited key US inflation data due this week for clues on the Federal Reserve’s next monetary policy move.
Reuters reported that spot gold rose 0.3% to $4,206.01 per ounce, after reaching its highest level since Oct. 2 earlier in the session. US gold futures for December delivery also gained 0.3% to $4,230.40 per ounce.
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