Gold gains as bets on Fed rate hike fade
Gold settled higher on Monday, supported by a weaker dollar and fading expectations of a Fed rate hike in September
Gold prices rose on Monday, supported by a weaker US dollar and diminishing expectations of tighter monetary policy by the Federal Reserve at its upcoming September meeting.
The dollar continued to decline during Monday’s session, making gold less expensive for holders of other currencies. Meanwhile, markets reduced their bets on a Fed rate hike amid signs of weakness in the US economy and labor market.
The precious metal’s gains were capped by a rise in oil prices amid geopolitical uncertainty.
An Iranian official told Reuters that Tehran would escalate tensions in the Strait of Hormuz if diplomatic efforts with the US fail.
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Gold, Silver Futures Prices |
|||
|
Metal |
Price ($/oz) |
Change ($) |
Change (%) |
|
Gold (December futures) |
$4,473.70 |
+36.40 |
+0.82% |
|
Silver (August futures) |
$66.121 |
+1.133 |
+1.74% |
Settlement prices for August 17, 2026.
Commodity Price
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