Gold Rises on Softer Dollar, Fading Fed Hike Expectations
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Gold rises on softer dollar, fading Fed hike expectations
Aug 17 (Reuters) - Gold prices rose on Monday as a weaker dollar and fading expectations of a U.S. Federal Reserve rate hike next month supported bullion.Spot gold rose 0.5% to $4,398.58 per ounce by 1032 GMT. Prices hit a more-than-two-month high last week.U.S. gold futures for December delivery edged 0.4% higher to $4,455.50.The U.S. dollar index (.DXY), opens new tab was down 0.2%, making gold cheaper for buyers holding other currencies."…
Gold prices rose in European trading as the dollar weakened and investors closely watched the impact of inflation data while awaiting the Federal Reserve's upcoming meeting minutes, boosting demand for gold. Gold rose to $4,416.53 an ounce in European trading hours, registering a daily gain of 0.9%; opening at $4,376.47 and a session low of $4,367.31. It is strengthening again after a correction from Friday's close of $4,449.81, a 0.55% increase…
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