Gold futures settled higher on Wednesday, as softer U.S. inflation data reduced expectations for an interest rate increase at the Fed’s October meeting. However, some gains were capped by a strong U.S. dollar and elevated bond yields. Markets now await Friday’s U.S. jobs data for clues on the Fed’s interest-rate path and bullion outlook.
Gold futures for December delivery rose by $7.00 or 0.17% to settle at $4,186.70 an ounce on the Comex division of the New York Mercantile. Spot gold up by $22.01 or 0.53% to $4,179.42 an ounce.