interest rate
Brent oil futures set to expire in March climbed by 0.4 percent to reach $77.22 per barrel
Brent crude futures for March delivery decreased by 0.5 percent, settling at $75.79 per barrel
The U.S. dollar index held steady at 109.09, nearing the two-year high it touched last week
The U.S. dollar index gained 0.03 percent to 108.57, making bullion less attractive for other currency holders
Among GCC countries, Kuwait recorded the highest annual inflation rate in September at 2.8 percent
The benchmark 10-year Treasury yield hit its highest since May 2024 yesterday, impacting bullion's rise
U.S. West Texas Intermediate (WTI) crude dropped by 15 cents, or 0.19 percent, to $73.42
Factors that may support gold prices include stronger central bank demand or rapid deterioration of financial conditions
Traders are awaiting the release of the U.S. jobs report on Friday for additional insight into the Fed's interest rate outlook
The central bank expects inflation to fall to 21 percent by the end of 2025
Major central banks will likely increase gold purchases in 2025, further boosting demand for the precious metal
