Gold Prices Edge Lower Amid Rising US Rate Hike Expectations

Gold prices opened the Asian trading session lower, extending pressure after recording losses of more than 1% during Friday's session. Persistent inflation in the United States has strengthened expectations of another interest rate hike, adding further pressure on the precious metal.

In market trading, spot gold fell 0.4% to $4,006.06 per ounce, while US gold futures for December delivery declined 0.3% to $4,018.50 per ounce.