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Gold firms as $ softens on Fed rate expectations

Gold edged higher on Monday, buoyed by a slight pullback in the U.S. dollar as market participants grew more confident the Federal Reserve may have finished raising interest rates.

Spot gold rose 0.1% to $1,940.80 per ounce by 1200 GMT. U.S. gold futures for December delivery rose 0.03% to $1,967.50 per ounce.

U.S. gold futures were steady at $1,967.50, with thin trading expected as U.S. markets are closed for the Labor Day holiday.

The Fed is likely done raising interest rates, traders bet on Friday after a jump in the U.S.

unemployment rate and moderate wage growth suggested that labour market conditions were easing.

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