Gold Above 4400 as Fed Watch Grows
Gold traded above $4,400 an ounce and reached multi-week highs as markets awaited the US inflation report and potential shift in Fed policy. Support came from steady central-bank buying and robust inflows into Chinese gold ETFs, with the People’s Bank of China making sizable purchases in August and Chinese institutions expanding bullion positions. Weaker dollar and rising oil prices rekindled inflation concerns, while geopolitical tensions around the Strait of Hormuz kept demand for safe-haven assets intact, including silver. Investors priced in varying odds for a September rate hike as inflation data looms, with non-yielding assets guided by macro uncertainty. Prices reflected broader demand dynamics in international and Indian futures markets amid a renewed risk-off mood. Overall, the mood remained risk-off amid macro uncertainty and geostrategic developments.
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“Gold Targets $4,500–$4,648 as Bullish Momentum Holds”Right
