WASHINGTON (dpa-AFX) - Gold edged higher on Monday as the dollar eased from a near three-month high ahead of key ADP employment data and ISM PMI figures due this week.
The upside, however, remained capped after China decided to end the old tax exemption on gold in a potential setback for consumers in one of the world's top bullion markets.
Spot gold rose 0.6 percent to $4,024.39 an ounce in European trading, while U.S. gold futures were up 1 percent at $4,036.37.
The dollar index steadied right below the 100.00 psychological level as traders await ISM and PMI data for additional clues to the Federal Reserve's rate trajectory.
Friday's nonfarm payrolls report is likely to be delayed due to the ongoing U.S. government shutdown, which is set to drag into sixth week.
The U.S. government shutdown is closing on becoming the longest in history this week as voters head to polls in several elections.
It's not a presidential election, but millions of Americans will head to the polls to vote in state and local elections on Tuesday, Nov. 4.
Elsewhere, China has eliminated a tax advantage previously enjoyed by gold retailers.
It is believed that this policy shift could lead to increased costs for Chinese gold retailers, potentially affecting gold prices and trade patterns.
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