Gold, down about 1% in the prior session, was slightly softer in early Monday
trade near $4,425. Stronger-than-expected U.S. August payrolls and unchanged
unemployment bolstered the case for a Fed rate hike at next week’s meeting. A
firmer dollar and rising odds of a September hike—now ~60% versus ~50% early
Friday—make dollar-priced, non‑yielding gold more expensive for buyers.
Escalating Middle East tensions are adding inflation risk and concerns about
prolonged energy supply disruption. Friday’s U.S. CPI will be watched for cues
on Fed policy.
