<\/p>\n
Gold held a two-day decline after a Federal Reserve official signalled one more interest-rate hike may be needed this year, but further tightening won\u2019t be necessary in 2027, improving sentiment toward the precious metal.<\/p>\n
Bullion traded near $4 170 an ounce, after falling 0.8% in the previous two sessions. Oil rose as a flare-up in attacks in the Middle East threatened further energy disruptions that could weigh on inflation and make a case for higher borrowing costs. Brent crude was above $106 a barrel.<\/p>\n<\/p>\n
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Fed New York President John Williams said he sees one more interest-rate hike as appropriate this year. US Treasury yields edged lower after his remarks, supporting gold, which typically does better in a lower rate environment as it doesn\u2019t pay interest.<\/p>\n
US consumer price index data due later on Wednesday may provide clues on the Fed\u2019s rate path, after it hiked for the first time since 2023 last month. Swaps traders are pricing in a low chance of a rise at this month\u2019s policy meeting, but see a roughly 90% odds of an increase in December.<\/p>\n
Gold\u2019s price action of late has been muted despite large-scale selling by trend-following funds, Daniel Ghali, head of metals research at Deutsche Bank AG wrote in a note. There\u2019s \u201crobust physical demand for gold, with non-commercial and commercial flows working together to offset algo sales and retail now on the sidelines,\u201d he said.<\/p>\n
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Spot gold rose 0.1% to $4 163.82 an ounce as of 11:35 a.m. Singapore time, while silver was 0.1% higher at $59.20. Platinum was flat, while palladium advanced. The Bloomberg Dollar Spot Index, a gauge of the US currency, was 0.1% lower.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Gold #steady #Fed #officials #remarks #temper #ratehike #bets<\/p>\n","protected":false},"excerpt":{"rendered":"
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