Gold rises as US dollar weakens
Gold prices rebounded by more than 1% as the US dollar retreated from an 18-month high.
Spot gold rose 1.3% to $4,158.63 per ounce on the morning of October 15, while US gold futures for December delivery climbed 1.8% to $4,180. Gold had fallen to its lowest level since October 7 in the previous session.
Following higher-than-expected US inflation in September, the probability of a Federal Reserve interest rate hike in October increased from 22% to 27%. Cautious remarks from Fed officials added to uncertainty surrounding monetary policy, while investors turned their attention to US producer inflation and retail sales data scheduled for release today at 3:30 p.m. Türkiye time. Silver also joined the rally in precious metals, rising 1.1% to $56.26.
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