Gold Slips as Investors Weigh Fed Rate Outlook
Traders cut the odds of a quarter-point hike below 20% after Kevin Warsh’s remarks, while elevated Treasury yields and a firmer dollar weighed on bullion.
- On Friday, spot gold fell to $4,018.69 per ounce, marking its lowest level since August 3 as investors recalibrated expectations for Federal Reserve policy.
- Fed Chair Kevin Warsh's recent comments suggested the central bank will skip interest rate hikes at its October 27-28 policy meeting, though traders still price a 94% chance of a December increase.
- Elevated Treasury yields and persistent inflationary pressures continue to weigh on gold, as higher borrowing costs increase the opportunity cost of holding the non-yielding asset.
- Surging oil prices, driven by Middle East geopolitical risks, are fueling inflation concerns that complicate the Federal Reserve's path for monetary policy.
- Investors are now monitoring next week's US Personal Consumption Expenditures data, the Federal Reserve's preferred inflation gauge, to assess if price pressures remain persistent.
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Gold prices down 0.5% day-on-day and silver loses 0.75%
On Friday, the price of gold fell again below USD 4000 (around EUR 3574) per fine ounce (about 31.1 grams) for the first time since the end of July. On Thursday, it was already under pressure in a weak market environment. Observers pointed to the significantly higher oil prices.
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Gold Heads for Steepest Weekly Loss in Months as Oil Prices Raise Inflation Concerns
Gold prices approached the $4,000-per-ounce mark as rising oil costs heightened fears that US interest rates could stay high for longer. Investors are monitoring the ... The post Gold Heads for Steepest Weekly Loss in Months as Oil Prices Raise Inflation Concerns first appeared on [your]NEWS.
(Seoul = Yonhap News) Reporter Kim Yu-ah = As AI and semiconductor-related stocks plummeted on the New York Stock Exchange and international oil prices rose, the domestic stock market on the 23rd also...
Gold prices declined for the fourth consecutive session, with oil rising and renewed inflation concerns, amid investors looking forward to the Federal Reserve Council meeting and US inflation data to look forward to the interest rate path during the period of the US dollar and the US dollar.
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