Bengaluru — Gold prices crept up on Monday as the dollar held close to a two-month low hit in the previous session, with investors noting the US Federal Reserve’s cautious view of inflation. Spot gold had risen 0.2% to $1,290/oz by 4.20am GMT. US gold futures for December delivery were up 0.2% at $1,289.90. "The inverse relationship between the dollar and gold prices is in effect [today]," said Mark To, head of research at Hong Kong’s Wing Fung Financial Group. "But I don’t think that kind of relationship is robust enough to wager larger bets.… While prices are moving up, movement will still be range-bound." The dollar index, which measures the greenback against a basket of six major currencies, was flat at 92.783 and hovered near a two-month low of 92.675 hit on Friday. A weaker greenback makes dollar-denominated gold cheaper for holders of other currencies. "Attention is apparently more focused on equity markets rather than precious metals as we begin the week," said Jeffrey Halle...
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