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The Economic Times

Gold holds near two-week high as U.S. rate-hike expectations ease

AI Market Summary
Gold is consolidating near a two-week high as softer U.S. labor data reduced expectations for near-term Fed tightening, lowering the implied probability of a September hike. A less restrictive rate path typically supports non-yielding assets via lower real-rate and dollar pressures. Focus now shifts to upcoming Fed minutes for policy clarity, while mixed physical demand signals (weaker India, slightly better China) temper follow-through risk.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.68%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Gold prices were steady near a two-week high, with spot gold at $4,175.02 an ounce and COMEX August futures up 1.5% to $4,186.80. The move followed a sharp slowdown in U.S. job growth in June and downward revisions to the prior two months’ payroll figures. Markets trimmed the perceived odds of a September Federal Reserve rate hike to about 55% from above 60%. Silver also climbed for a fifth straight session to $62.4773 an ounce, while platinum and palladium extended gains.
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