Gold edged higher on Monday as a softer dollar and rising expectations of a US Federal Reserve rate cut lifted investor sentiment. Spot gold rose 0.5 per cent to $4,215.69 per ounce, while US December futures held steady at $4,244.80. The dollar hovered near one-month lows, making gold cheaper for overseas buyers. Market expectations for a 25-basis-point Fed rate cut this week, supported by subdued consumer spending and weak payroll data, boosted demand for non-yielding assets. Silver inched up 0.1 per cent to $58.35 per ounce, after hitting a record $59.32 on Friday, reflecting strong industrial demand. Platinum and palladium gained 0.8 per cent and 0.7 per cent to $1,654.05 and $1,467.25, respectively. Attribution: Reuters
