Gold climbs toward $4,400 as September Fed hike odds fall to 33%
AI Market Summary
Weaker July US payrolls and benign inflation data reduced September Fed hike odds to 33% from 47%, easing real-rate pressure and supporting gold's advance toward the 4,400 level. Markets will scrutinize upcoming Fed minutes for confirmation of a less hawkish policy path. Geopolitical diplomacy on Gaza adds a modest risk premium, while widened Indian physical discounts signal demand sensitivity to higher prices.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+1.21%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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A surprise decline in U.S. nonfarm payrolls for July, combined with earlier softer inflation readings, has cooled expectations for a Federal Reserve rate hike in September, with implied odds falling to 33% from 47%. Gold prices have risen toward the $4,400 level in response. The Fed’s minutes from its July meeting are due on Wednesday and are expected to offer additional clues on the policy outlook. In India, physical gold discounts widened to their highest in more than two months as higher bullion prices weighed on demand.
