S. Federal Reserve rate hike supported bullion, while investors monitored geopolitical tensions in the Middle East, Reuters reported.

m. EDT (1734 GMT).

S. 70.

“A big factor here is the US dollar has weakened to a psychologically important 100 level.” The dollar fell to its lowest level in more than two months, making gold less expensive for buyers using other currencies.

S. payrolls data and subdued consumer inflation figures last week.

Investors are now awaiting the minutes of the Fed’s July meeting, due on Wednesday, for indications of the central bank’s policy outlook. 2% a month earlier, according to the CME FedWatch Tool.

Gold, which offers no yield, typically benefits from lower interest rates because they reduce the opportunity cost of holding bullion. On the geopolitical front, a senior Iranian official told Reuters that Tehran would intensify tensions in the Strait of Hormuz and across the region if diplomatic efforts with the United States failed, signalling a shift towards a more offensive approach.

01 an ounce. 92 an ounce.