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Gold price stabilizes
Gold climbed on Monday following a three-week rout, as the dollar weakened and reports of potential import restrictions in China pushed up demand, says Dow Jones.
Gold for December delivery was recently up 0.6% at $1,185.80 a troy ounce on the Comex division of the New York Mercantile Exchange.
The WSJ Dollar Index was recently down 0.2% at 91.68. Gold fell to the lowest level since February last week, weighed down by a resurgent dollar and stock-market euphoria that has sapped the metal's safe-haven appeal.
Fed fund futures used to bet on central bank policy imply a 95.9% probability of a rate-rise in December.
Analysts at Deutsche Bank also said gold could get a post-Fed-meeting boost.
"History teaches us that gold can rally after the Fed has hiked," they wrote in a note to clients. "Since 1976, in five instances out of eight, gold rallied with rising Fed rates."
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