Business
Spot gold rises 0.4% to $4,182.30
Hindustan Times·
Spot gold rose 0.4 percent to $4,182.30 per ounce by 0455 GMT on Monday. US gold futures for December delivery gained 0.5 percent to $4,203.50. KCM Trade analyst Tim Waterer said softer oil prices supported gold on inflation grounds. CME FedWatch priced a 13 percent chance of a Fed hike this month and 89 percent in December.
Prism
What It Means For You
- Spot gold traded at $4,182.30 an ounce by 0455 GMT on Monday after a 0.4 percent rise.
- Traders using CME FedWatch priced a 13 percent chance of a US rate hike this month.
- December US gold futures were at $4,203.50 after a 0.5 percent gain.
What's Happening
- Softer oil prices supported gold as investors weighed Federal Reserve hike odds.
- Tim Waterer of KCM Trade linked the move to oil's inflation signal.
- Markets await the FOMC meeting and PCE inflation data due next week.
Other Metals On The Same Tape
- Spot silver rose 1.3 percent to $57.73 per ounce on the Hindustan Times feed.
- Platinum gained 1.1 percent to $1,647.75 and palladium climbed 1.7 percent to $1,131.29.
- The IMF said Friday the ECB is likely to raise rates by 25 basis points at least once more this year.
all-news
