Gold Edges Up After Two Days of Losses on Reduced Rate-Cut Bets

Gold edged higher, after two days of losses spurred by fading optimism the US Federal Reserve will cut interest rates next month.

Bullion was trading around $4,100 an ounce on Monday, having lost more than 2% in the previous session. Expectations for another rate cut were scaled back last week as Fed officials little conviction for reducing borrowing costs. Lower interest rates typically make non-yielding bullion more appealing to investors.

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Gold rose 0.4% to $4,099.25 an ounce as of 7:17 a.m. in Singapore. The was little changed. Silver gained, while palladium and platinum were flat.