Gold ends higher as dollar weakens

Gold bars

Gold prices rose at Wednesday’s close, supported by a weaker dollar and growing expectations that the Federal Reserve will resume monetary easing in September.

December gold futures climbed 0.27%, or $9.3, to settle at $3,408.3 an ounce.

The gains came as the US dollar index fell to a two-week low, with markets pricing in a roughly 95% chance of a 25-basis-point Fed rate cut in September.

Investors are also watching the planned bilateral summit between US President Donald Trump and Russian President Vladimir Putin later this week to discuss ways to end the war in Ukraine, which is nearing its fourth year.