Gold rose in early Asian trade at 0100 GMT, as analysts noted a shift in market sentiment and a modest uptick in buying interest. The rise coincided with easing expectations of Federal Reserve rate hikes, putting downward pressure on the dollar.

Trade‑weighted gauge of the U.S. dollar fell to its lowest level since May, according to ANZ Research analysts, indicating broader greenback weakening. A weaker dollar makes dollar‑denominated gold cheaper for buyers using other currencies, likely sparking renewed investment demand. ANZ analysts also noted strong central‑bank gold‑buying continues to support prices.

Strong central‑bank gold‑buying continues to bolster gold, reinforcing price gains beyond currency effects. This backdrop may encourage additional speculative buying and help sustain the recent rally. Analysts say the combination of softer dollar and robust institutional demand creates a supportive environment for further price appreciation.

Spot gold was up 0.2% at $4,429.15 an ounce, a level that reflects the market’s reaction to the softer dollar and ongoing central‑bank activity. The price movement, reported by Megan Cheah of the Wall Street Journal, underscores gold’s sensitivity to monetary policy expectations and global investment flows.