Gold climbed in Asian trade on Monday after SOCGEN said September PCE came in
weaker than expected, which could curb market bets on a Fed rate increase in
October. Market pricing shows roughly a 40% probability of Fed action in
October, providing initial support for gold into the month. Gold’s trajectory
remains a tug-of-war between structural demand—central-bank purchases and ETF
inflows—and macro headwinds from a strong dollar and rising yields.
