Latest Status of Gold Prices with Fed Statements and Interest Rate Expectations
Following dovish remarks by Fed Board Member Waller, spot gold traded near $4,500 while markets focused on critical employment and inflation data.
Gold prices in global markets stabilized near $4,500 per ounce after Federal Reserve Governor Christopher Waller stated that interest rates could be kept steady if price pressures ease. Investors are closely monitoring the employment report and next week's inflation data to clarify the US central bank's next steps.
Fed Official Waller's Remarks
Fed Governor Christopher Waller stated that he could support keeping interest rates steady if price pressures continue to abate.
Emphasizing that recent data finally point to some signs of disinflation, Waller noted that decisions will be influenced by next week's inflation figures.
Interest Rate Expectations and the Course of the Dollar
Following the latest statements, the probability of an interest rate hike in September declined in the markets, while the weak course of the dollar supported precious metals.
The loosening trend in the US currency was among the main factors that accelerated gold purchases.
Data Focused on by Markets
Global investors are locked on the official employment data to be released in order to determine the direction of the Fed's monetary policy.
Inflation figures to be announced next week are also of critical importance for the direction of the markets.
Current Status in Gold Prices
Preparing to close the volatile week with a partial increase, gold finds buyers near $4,500 per ounce.
Prices continue to follow a flat course in the spot market and stock exchanges.