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26-Sep2016

Gold futures edge higher on weaker dollar

Gold futures edged higher on Monday as the dollar fell against the yen, with markets shifting their focus towards US politics ahead of a presidential debate. In the coming week, Federal Reserve Chair Janet Yellen is due to speak amid ongoing uncertainty over the timing of the next US rate hike. As well, a pair of speeches from European Central Bank President Mario Draghi will be in focus for fresh hints on whether the ECB will step up monetary stimulus in the coming months to boost inflation and prop up the economy.

Gold futures for December delivery rose 0.04 percent to trade at $1,342.25 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was up 0.1 percent to $1,338.82 an ounce.


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