WASHINGTON (dpa-AFX) - Gold inched higher on Thursday while the dollar index slipped under 98 mark as recent weak NFP data revived September rate cut speculation.
Spot gold edged up by 0.2 percent to $3,377.56 per ounce in European trade, while U.S. gold futures were up half a percent at $3,452.
The dollar held losses on growing expectations of a Federal Reserve rate cut next month.
Fed San Francisco President Mary Daly said Wednesday in a speech in Alaska that the job market has slowed and policymakers will probably need to adjust rates in the coming months to prevent further weakness in the labor market.
Her Minneapolis counterpart Neel Kashkari also said the U.S. economy is slowing, and it will be appropriate in the near term to begin adjusting policy rate.
Tariff and geopolitical tensions also remained on investors' radar after U.S. President Donald Trump imposed steeper tariffs on Indian goods over New Delhi's continued purchase of Russian oil and warned of wider secondary sanctions on other counties buying Russian oil.
In another development, Trump said envoy Witkoff's meeting with Russian President Vladimir Putin was 'highly productive' and he plans to meet Putin and Ukrainian President Volodymyr Zelensky as soon as next week in order to end the war.
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