Gold holds near $4,190 an ounce after first weekly gain since May as Fed hike bets ease
AI Market Summary
Gold is steady near $4,190/oz after its first weekly gain since May as softer US jobs data and falling oil prices reduced expectations for further Fed rate hikes, pushing real yields lower and supporting non-yielding metals. An interim US-Iran peace deal and OPEC+ supply signals eased inflation pressure via lower energy costs. Renewed political pressure on Fed independence remains a supportive macro tail risk for bullion.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.46%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Gold steadied around $4,190 an ounce after rising more than 2% over the past week, its biggest weekly advance since May. Silver, platinum and palladium also posted gains. Softer US jobs data and OPEC+ signaling higher supplies helped cool expectations for further Federal Reserve rate increases, pulling real yields lower and supporting precious metals valuations.
