Gold Rises as October Fed Rate Hike Bets Fade

Gold prices went up a little on Monday.

New U.S. jobs data showed that hiring had slowed, and earlier job figures were revised downward.

This made traders less sure that the Federal Reserve would raise interest rates in October.

Gold can become more appealing when people expect rates not to rise, because gold does not pay interest.

Traders still expected a rate increase could happen in December.

A market analyst said that the Fed’s wider plan to raise rates was still seen as active.

Events in the Middle East could also affect gold, partly through their effect on oil prices and inflation.

Silver, platinum, and palladium prices also rose, while oil prices fell.