Gold rises as oil slides and investors await US rate decisions

Gold prices climbed Monday, supported by falling oil, with investors awaiting Federal Reserve interest-rate decisions and fresh inflation data.

• Spot gold rose 0.3–0.5% to around $4,175–$4,186 an ounce, and December futures gained up to 0.57% to $4,207.
• Oil fell after Trump exempted Russia from sanctions and tariffs, a move that could increase Russian fuel exports.
• Tim Waterer, an analyst at KCM Trade, said a sustained oil decline or clearer bond-yield retreat would most support gold by easing inflation worries.
• Traders await the Federal Open Market Committee meeting and PCE data next week; CME FedWatch priced a 16% chance of a rate hike this month and 92% for December.
• Gold recorded a weekly loss as investors increased bets on a US Federal Reserve rate hike after inflation data exceeded expectations.
• Egypt's 21-karat gold price reached 6,280 Egyptian pounds per gram, with manufacturing costs of between 100 and 150 pounds.
• Saudi Arabia's 21-carat gold reached 440.40 Saudi riyals per gram at the start of Monday trading.
• Egypt's 21-karat gold held at 6,270 Egyptian pounds per gram mid-morning, with 24-karat at 7,165 pounds per gram.
• Oil fell more than 2% in Monday's session, deepening its slide after Trump suspended sanctions and tariffs on Russia.
• The dollar gained against the euro amid French political instability following weekend riots, but fell against the offshore yuan.
• European stocks declined, led by France, as investors awaited central-bank decisions and corporate earnings.