Gold Market
Gold trades near $4,400 after bouncing from a one-week low of $4,300. Weak US retail sales and consumer sentiment undermine the dollar, but geopolitical tensions and inflation fears cap gains.
Gold prices edged higher in early Asian trading on Monday, supported by a softer dollar and diminished expectations of a US interest rate hike in September.
Gold moved toward $4,400 an ounce after weaker US consumer sentiment and retail sales figures lowered the perceived risk of immediate Federal Reserve interest rate hikes.
Gold advanced to $4,397 an ounce on Friday, heading for a 9% monthly rise as softer US inflation figures reduced the likelihood of a September Federal Reserve rate increase.
Gold prices stabilised after an early pullback on Friday, supported by cooling US inflation numbers that reduced expectations of an imminent interest rate increase.
Gold prices advanced towards a weekly gain on Friday, supported by a weakening US dollar and steady inflation data that cooled expectations of further Fed rate hikes.
Gold prices climbed towards $4,400 an ounce after weaker US economic data, including a drop in retail sales and softer inflation, diminished expectations of further Federal Reserve rate hikes.
Gold rallied towards $4,372 an ounce on Friday, recovering from an intraday low of $4,311 after disappointing US retail sales figures weighed on the dollar and Treasury yields.
Gold prices held above $4,300 per ounce after cooling US producer price data reduced the likelihood of a near-term Federal Reserve interest rate rise.