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Gold prices rise as US dollar weakens and Fed hike bets fade FAST-MOVING
Gold prices have extended a multi-day rally, climbing toward the US$4,400-US$4,500 range. This upward momentum is driven by a weakening US dollar and diminishing market expectations for further interest rate hikes by the Federal Reserve. Recent US economic data, including softer employment and inflation figures, have led traders to scale back bets on a September rate increase, with some tools suggesting only a 35% chance of a hike.
Geopolitical tensions in the Middle East are also influencing market sentiment. Escalating conflict between the US and Iran, including a naval blockade and threats of a fully offensive military posture from Iran, has bolstered gold's status as a safe-haven asset. Additionally, concerns over energy supply disruptions have pushed Brent crude oil prices above US$91 per barrel.
While gold faces headwinds from rising US Treasury yields, central bank buying—notably from China—and increased demand from investment funds like the SPDR Gold Trust have supported prices. Financial institutions like Wells Fargo have maintained a bullish long-term outlook on precious metals, despite revising near-term price targets downward due to elevated real yields.
Entities
Donald Trump · Federal Reserve · Gold · Iran · Kevin Warsh · Silver · Wells Fargo
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] Market expectations for a Federal Reserve rate hike in September have dropped to approximately 35%. bitcoinethereumnews.com · srnnews.com
- [● 2 SOURCES] Iran will shift to a fully offensive military posture as negotiations with the US have stalled. srnnews.com · www.myjoyonline.com
- [● 2 SOURCES] Most economists expect the Federal Reserve to keep interest rates unchanged next month and through the end of the year. almanartv.com.lb · www.myjoyonline.com
- [○ 1 SOURCE] SPDR Gold Trust purchased approximately 7.13 tons of gold on August 17. cafef.vn
- [● 2 SOURCES] Gold prices rose to approximately US$4,425 per ounce. www.businesstimes.com.sg · www.myjoyonline.com
- [● 2 SOURCES] Brent crude oil prices rose above US$91 per barrel. srnnews.com · tuoitre.vn
- [○ 1 SOURCE] Wells Fargo cut its 2026 year-end gold target to a range of US$4,900-5,100 per ounce. investinglive.com
- [● 2 SOURCES] The US dollar index has weakened, reaching levels near multi-month lows. srnnews.com · cryptobriefing.com