Gold steadies above $4,300 but rate-hike expectations weigh
Gold has climbed back above $4,300 after a sharp 2.7% fall, helped by a pullback in Treasury yields, though rising Fed rate-hike bets and a firmer dollar cap the rebound.
Gold Market
Gold has climbed back above $4,300 after a sharp 2.7% fall, helped by a pullback in Treasury yields, though rising Fed rate-hike bets and a firmer dollar cap the rebound.
Gold price stalled near $4,700 after a strong rally from $4,300. Sellers have appeared, with immediate support at $4,465 and a possible test of $4,510.
Gold pulled back sharply from a 15-week high of $4,697 on Tuesday, weighed by a stronger US dollar and rising oil prices amid geopolitical tensions. However, technical indicators and robust physical demand suggest the bullish trend may persist.
Gold briefly rose above $4,680, its highest since mid-May, as the US dollar weakened on political turmoil. Technical indicators suggest the bullish trend remains intact.
Gold rose above $4,650 on Monday, its highest since mid-May. Lower US bond yields and a softer dollar, as expectations for a Fed rate hike fade, underpin the move.
Gold rose 4.35% on 19 August, its biggest daily gain since February. The rally reflects traders pricing in US dollar debasement risk, not lower bond yields.
Gold is approaching $4,500 for the first time in over two months as the US dollar weakens. The US Treasury’s decision to double debt repurchases has weighed on the greenback, supporting bullion.
Gold fell over 1% to $4,364 on Tuesday as US Treasury yields rose to their highest since 2007, pressuring the non-yielding metal. The dip came as energy prices gained on stalled US-Iran talks.
Gold dipped under $4,400 per ounce on Tuesday, reversing earlier gains as profit-taking and a broader metals correction outweighed support from diminished Fed tightening expectations.