Gold Rebounds 1.1% to $4,376 as Dollar and Treasury Yields Retreat

  • Spot gold rose 1.1% to $4,376.41 an ounce after touching its lowest level since August 7.
  • December gold futures settled 0.4% higher at $4,414.60, while markets priced a 64% chance of a September Federal Reserve rate hike.
  • Lower dollar and Treasury yields supported bullion as Williams cited easing inflation; the Dutch central bank moved 86 metric tons of gold to London.

Spot gold rebounded 1.1% to $4,376.41 an ounce on Wednesday after briefly reaching its lowest level since August 7, while December futures settled 0.4% higher at $4,414.60. A weaker dollar and lower Treasury yields supported the metal, although markets still priced a 64% probability of a Federal Reserve rate increase at the September meeting. New York Fed President John Williams said inflation was easing as tariff effects faded and higher energy prices had not spread to other services. U.S. private payroll growth missed expectations, and investors awaited the Nonfarm Payrolls Report for further policy signals. The Dutch central bank also said it had transferred 86 metric tons of gold from New York and Ottawa to London over six months.

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