Gold ends in green ahead of release of Fed's policy meeting minutes

Gold prices nudged up today, Oct. 11, with the US 10-year Treasury yields tumbling to a two-week low, as investors assessed some US economic readings to anticipate the future path of monetary policy.

Official data indicated that the Producer Price Index in the US grew by 0.50% in September on a monthly basis, against forecasts for a 0.30% hike, albeit still deemed a slowdown from the 0.7% uptick logged a month earlier.

In terms of expectations, the CME FedWatch Tool showed that chances that the Federal Reserve would decide to lift key rates by 25 basis points at the November meeting fell to 11.2%, versus 23.1% a week ago.

Investors are also pricing in an 88.8% probability the US central bank will hold steady to interest rates at the current range at the forthcoming meeting.

Markets are awaiting the release of the Federal Reserve's September monetary policy meeting minutes later in the day, prior to the issuance of the US Consumer Price Index reading on Oct. 12.

At settlement today, bullion for December delivery jumped by 0.65%, or $12, to stand at $1,887.30 per ounce — the highest since Sept. 27.

On the other hand, the US dollar index, which measures the performance of the US currency against a basket of six major currencies, held ground at 105.87 points at 08:24 pm Makkah time.