Gold Holds Above $4,100 as Fed Rate Bets Ease but High Treasury Yields Limit Gains: Oil Falls, Dollar Strengthens
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In global markets, the price of an ounce of gold is holding above the $4,100 support despite the strong dollar and high bond yields.
Gold Holds Above $4,100 as Fed Rate Bets Ease but High Treasury Yields Limit Gains: Oil Falls, Dollar Strengthens
Gold prices edged higher on Tuesday as markets scaled back expectations for a Federal Reserve interest-rate increase this month, offering some relief to bullion even as a firm U.S. dollar and elevated Treasury yields continued to limit demand. Spot gold rose 0.3% to $4,152.04 an ounce by 0909 GMT, while U.S. gold futures for December […]
Spot gold traded at around $4,120 on the morning of October 6, but fell as low as $4,105 during the day. A strong dollar and US Treasury yields reaching a 24-year high are putting pressure on gold, while market attention is now focused on the Federal Reserve minutes to be released tomorrow.
Gold: Fed Hike Delay Isn't Relief, FOMC Minutes Put the Rate Plateau to the Test - ActionForex
October Fed hike odds collapsed to just 17.7%, but Gold barely rallied because markets still price an 82.7% probability of at least one more hike by December and a rate plateau near 4.7% by late 2027—nearly 60bp above the Fed's own September median—making Wednesday's FOMC minutes, not the October skip, the real test for gold.
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