Gold rises as October Fed hike odds retreat
AI Market Summary
Gold edged higher as softer U.S. labor data sharply reduced October Fed hike expectations, lowering real-rate pressure and improving the relative appeal of non-yielding assets. CME pricing shows October hike odds falling materially, though December tightening remains largely priced. Geopolitical risk in the Middle East adds a potential inflation and volatility channel via oil, supporting safe-haven demand across precious metals.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+0.81%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Gold prices rose on Monday after a run of softer U.S. economic data cooled expectations for a Federal Reserve rate increase in October. Spot gold climbed 0.4% to $4,158.17 an ounce, while U.S. December gold futures gained 0.6% to $4,186.40. The drop in rate-hike expectations reduced the opportunity cost of holding non-yielding gold.
