Gold prices moved higher on Monday as softer oil prices offered some relief from inflation concerns. Spot gold rose 0.3% to around US$4,175.60 per ounce, while US gold futures for December delivery gained 0.4% to US$4,196.40. Spot silver increased 0.9% to US$57.54 per ounce, according to early market data.
Investors are also assessing the outlook for US interest rates and upcoming inflation data. Lower oil prices can ease concerns about inflation, potentially supporting precious metals, while expectations of higher interest rates can weigh on assets that do not generate interest. Prices may remain sensitive to central-bank signals, the dollar and developments in the Middle East.
Leave A Comment