Gold rebounds amid dollar decline
Gold prices rose by more than 1% to recover earlier losses, amid a decline in the US dollar and expectations of a potential Federal Reserve interest rate hike this month due to rising inflation, especially following the increase in gasoline prices in September. At the start of trading, gold reached $4,158.63 per ounce, with futures increasing to $4,180. Meanwhile, the market is now focusing on PPI (Producer Price Index) data and retail sales, as the impact of rising interest rates on gold's attractiveness as a hedge against inflation becomes more evident.
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