Gold rises 0.1% in Asia as softer U.S. data support metals

  • Gold rose 0.1% in early Asian trading.
  • $4,453.66 was spot gold’s price per troy ounce.
  • OCBC Group Research cited central-bank gold demand and persistent silver supply constraints.

Gold rose 0.1% to $4,453.66 a troy ounce in early Asian trading as softer U.S. economic data eased pressure from yields and a less consistently strong dollar helped precious metals regain momentum. OCBC Group Research said Fed chief Warsh’s Jackson Hole speech could temporarily limit gold’s near-term upside amid concerns about Fed rate hikes, but would not materially change the broader outlook. The bank highlighted central bank demand for gold and persistent supply constraints in silver as structural supports.

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