Gold prices rise 1.4 percent
Istanbul, November 9 (Hibya) - Gold prices rose in global markets on the first trading day of the week. Spot gold gained 1.4 percent to reach $4,123.46 per ounce, supported by falling oil prices and a weaker US dollar.
Gold prices continued to rise in international markets on Monday, November 9. According to market data reported by Reuters, spot gold increased 1.4 percent to $4,123.46 per ounce as of 04:28 GMT. US gold futures also gained 1.4 percent, reaching $4,132.70.
Lower oil prices eased inflation concerns, while a weaker dollar supported demand for non-yielding gold. Gold had also ended the previous week with a gain of approximately 5 percent.
Meanwhile, strong US employment data for October reinforced expectations that the US Federal Reserve could raise interest rates in December. Investors are awaiting US consumer inflation data scheduled for release on Tuesday for clues about the direction of monetary policy.
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