Gold nears $4,500 as softer US data revive Fed rate-cut bets

Gold climbed toward $4,500 an ounce on Monday, extending its previous-session gains as softer US economic data reduced expectations of near-term Federal Reserve tightening. Subdued inflation, weaker consumer sentiment and softer retail sales pressured the dollar, with the dollar index slipping toward 99. Investors now await the FOMC minutes and Fed Chair Kevin Warsh?s Jackson Hole speech for fresh policy signals. A data-heavy week, including US PMIs, industrial production and housing figures, could further shape gold?s near-term direction. MCX October gold futures rose 0.5% to ₹155,316 per 10 grams.

Powered by Commodity Insights