Gold Edges Higher as Traders Ease Rate Hike Bets on Warsh Speech
- Gold rose 0.4% to $4,180.97 an ounce in Singapore after falling 0.7% the previous week.
- Traders reduced the estimated chance of a quarter-point Federal Reserve rate hike to below 20% after Kevin Warsh’s comments.
- Gold has remained above $4,000 an ounce since August but is still down about one-fifth since the U.S.-Iran conflict began in late February.
14 Articles
14 Articles
Future gold contracts closed this Tuesday (20) in a session marked by volatility in the oil prices and revenues of the Treasures, reflecting the shift in the news on the level of negotiations between the United States and Iran. Investors also await the monetary policy decision of the Federal Reserve (Fed) next week, amidst rising inflationary pressures. In Comex, the metal division of the New York Mercantile Exchange (Nymex), future gold contrac…
Gold edges higher as traders ease rate-hike bets on Warsh speech
Gold has held above the key $4,000-an-ounce support threshold since August, with its status as a safe haven asset providing a floor since a war-driven slump pushed it into bear territory earlier this year.
Gold edges higher as investors assess Fed rate-hike odds
In early Asian trading, gold prices saw a modest uptick as speculation swirled regarding the Federal Reserve's policy stance. Investors are closely watching remarks from Fed Chairman Kevin Warsh on the state of the U.S. economy and rising inflation concerns. As import costs climb, expectations for a rate hike this December are building. Furthermore, unrest in the Middle East is contributing to market volatility, influencing investor confidence.
Gold prices rose in early dealings on Monday, as customers' expectations of the US Federal Reserve raising interest rates declined during the current month, following statements by its President, Kevin Warsh.
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