Gold climbs toward $4,400 as cooling US inflation trims Fed hike bets
Gold traded near $4,395 in early Asian hours Monday, extending gains after softer US inflation data reduced expectations for Federal Reserve rate hikes despite US-Iran tensions.
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Gold strengthened to around $4,395 in early Asian trading on Monday, approaching the $4,400 level. The move extends a rally supported by cooling US inflation data, which has reduced market expectations for Federal Reserve interest rate increases.
The advance comes even as US-Iran tensions remain in focus. Traders continue to watch the precious metal as softer inflation shifts the outlook for Fed policy.
Source: FXStreet Forex News