Gold holds near $4,514 as it eyes a third straight weekly gain
AI Market Summary
Gold is steady near recent highs and tracking a third weekly gain, supported by a weaker dollar and U.S. Treasury actions to suppress long-end yields via larger buybacks. Softer jobless claims reinforce expectations the Fed holds rates in September, limiting real-yield pressure that typically weighs on non-yielding assets. The combination keeps near-term support intact across precious metals.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.83%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Spot gold steadied around $4,514, up 3.2% for the week and set for a third consecutive weekly gain. The U.S. Treasury said it will double buybacks of longer-dated securities next quarter to at least $4 billion per operation. Markets are pricing a 64% chance the Federal Reserve will keep rates unchanged in September. Elsewhere, silver was flat, platinum edged up and palladium was steady.
