Gold edges 0.05% higher as yields and oil weigh on gains

  • Spot gold edged higher during early Asian trading.
  • Spot gold was 0.05% higher at $4,161.67 a troy ounce at 0154 GMT.
  • OCBC Group Research said softer core PCE reduced expectations for an October Fed hike.

Gold rose 0.05% to $4,161.67 a troy ounce at 0154 GMT, but gains remained fragile in early Asian trading. OCBC Group Research said softer core PCE inflation reduced expectations for an October Federal Reserve hike, although that alone may not support gold while the broader yield and oil backdrop remains unfavorable. Market attention is centered on whether U.S. Treasury yields can peak, with the precious metal still facing near-term pressure.

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