Gold edges up as dollar weakens and rate-hike bets cool

Spot gold rose 0.3% in Asian trading on Friday, with silver, platinum and palladium all posting gains.

Staff Writer
Gold Souk, Dubai

Article summary

AI Generated

Spot gold rose 0.3% to $4,388.62 per ounce in early Asian trading, supported by a weakening dollar and data that has reduced expectations of a US rate rise next month. Silver, platinum and palladium also advanced.

Key points

  • Spot gold rose 0.3% to $4,388.62 per ounce
  • Dollar index fell 0.1%, making gold cheaper for other currency holders
  • Silver up 0.8%, platinum up 0.4%, palladium up 1.2%

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Gold prices ticked higher at the start of Asian trading on Friday, supported by a softer dollar and economic data that has tempered expectations of a US interest rate rise next month.

Spot gold climbed 0.3% to $4,388.62 per ounce, while December US gold futures advanced 0.2% to $4,444.30.

The US dollar index slipped 0.1%, making dollar-denominated gold cheaper for buyers holding other currencies.

Other precious metals also moved higher. Silver gained 0.8% to $65.19 per ounce, platinum rose 0.4% to $1,755.40, and palladium was up 1.2% to $1,329.