Market Analysis: Gold Benefits from a Softening Dollar and Investor Wait for Key Data

GoldPrice.com reports that, influenced by a softer dollar and investors awaiting key US economic data, gold prices have risen. New York gold futures increased by 1.1% in early trading to $4,377.40 per ounce, while the US Dollar Index remained flat at 98.36. The upcoming release of the November Non-Farm Payrolls report and Consumer Price Index (CPI) inflation data will be closely watched for more clues on the Fed's policy outlook. FP Markets analyst Aaron Hill stated, “The current main concern is the pace at which the Federal Reserve will cut interest rates next year.” Gold typically benefits from a low-interest-rate environment.