Gold climbs as dollar edges lower, markets await Fed rate hike path

Spot gold rose 0.4 % to $2,002.72 per ounce by 0909 GMT. U.S. gold futures were also up 0.4% to $2,015.40.

Bids for a fresh record high may be curtailed until there is greater certainty to Fed rate cuts later this year, Tan added.This weighed on gold, pushing it to a two-week low, as a stronger dollar makes gold more expensive for holders of other currencies. With the majority of U.S. data over the past few days pointing to an economic slowdown and a weakening dollar, the background influences remain supportive for gold, said StoneX analyst Rhona O'Conell in a note.

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