Gold prices rose slightly during the Asian session as the market focuses on the Federal Reserve's rate hike path and inflationary pressures.

1. In early Asian trading on Monday, gold prices edged higher, with spot gold once rising by 0.57% to $4,187.59 per ounce and currently trading around $4,176 per ounce. Investors are evaluating the possibility of a Federal Reserve rate hike later this year and are awaiting new clues regarding policy direction. 2. Federal Reserve Chair Waller expressed optimism about the resilience of the US economy last Friday and was surprised that the global economy has been able to “hold up” amid ongoing energy shocks and tight anti-inflation policies. 3. US import prices in September rose more than expected, driven by higher costs for energy products and a range of other goods, further indicating that inflationary pressures are rising as the Middle East conflict continues. The CME FedWatch tool shows that traders currently see a 16% probability of the Federal Reserve raising rates this month, and a 92% probability in December. 4. The International Monetary Fund stated on Friday that European economies must accelerate growth or cut borrowing to set debt on a sustainable path, warning that inaction is not an option. 5. On geopolitics, the Egyptian presidential office said on Sunday that Egypt is ready to provide any necessary support to Saudi Arabia to safeguard its security and stability.