Gold prices rose on Monday in Asia after notching up a second-straight week of gains amid expectations for a Federal Reserve rate cut later this month.
Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange inched up 0.1% to $1,427.75 by 12:15 AM ET (04:15 GMT).
The yellow metal was supported by expectations that the Fed will cut rates by at least a quarter-point this month amid concerns over the effect of heightened trade tensions on the outlook for growth.
Gold prices also benefited from weaker stock markets in Asia today. Hong Kong’s Hang Seng Index was down almost 1%, while other major markets in Asia also fell.
