Gold Prices Inch Higher As Dollar Softens

Gold prices edged higher on December 11, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than expected and as the dollar slipped after the previous session's rally.

Spot gold was up 0.2 percent at $1,246.62 per ounce, as of 0430 GMT. It touched its highest in nearly five months at $1,250.55 in the prior session.

U.S. gold futures were 0.2 percent higher at $1,251.4 per ounce.

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