Gold holds near $4,400 as dollar, yields retreat and Fed hike bets persist

  • Gold traded near $4,400 an ounce after rebounding during the previous session.
  • Markets priced in about a two-thirds chance of a Fed rate hike later this month.
  • John Williams said inflation was easing as tariff effects faded, while August private employment growth slowed.

Gold traded near $4,400 an ounce on Thursday after rebounding in the previous session, helped by a pullback in the dollar and Treasury yields. New York Fed Bank President John Williams said inflation continues to ease as the effect of tariffs fades, while higher energy prices have not yet spread to other services. Separate data showed US private employment growth slowed in August. Markets nevertheless price in about a two-thirds chance of a Federal Reserve rate hike later this month after Chair Kevin Warsh made hawkish remarks on Friday. Oil prices halted their rally after President Donald Trump said the latest attacks on Iran would be short-lived while indicating that the US was prepared for further strikes, easing inflation concerns and adding support to bullion.

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Gold holds near $4,400 as dollar, yields retreat and Fed hike bets persist - CoinPost Terminal