Gold edged up on Monday, supported by softer oil. KCM Trade chief market analyst
Tim Wotler said: "At the start of the week gold posted a small rise. From an
inflation perspective, softer oil is positive for gold. In the short term,
continued oil declines or a more pronounced drop in yields would be the most
favorable catalysts for gold, because both would ease market concerns about
inflation and rate hikes." Oil fell on Monday after President Trump waived
sanctions and tariffs targeting Russia. US import prices rose more than expected
in September as energy and other commodity costs climbed; the ongoing Middle
East conflict further underscores inflationary pressure. Market participants are
focused on the Fed's upcoming policy meeting and next week's PCE release.
