{"id":605310,"date":"2026-09-04T05:36:20","date_gmt":"2026-09-04T05:36:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/605310\/"},"modified":"2026-09-04T05:36:20","modified_gmt":"2026-09-04T05:36:20","slug":"gold-silver-rally-as-feds-waller-cuts-september-hike-odds-kitco-pm-report","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/605310\/","title":{"rendered":"Gold, silver rally as Fed\u2019s Waller cuts September hike odds – Kitco PM Report"},"content":{"rendered":"

(Kitco NewsWire) – Spot\u00a0gold<\/a> and\u00a0silver<\/a> prices are sharply higher in late-afternoon U.S. trading Thursday, as Fed Governor Christopher Waller\u2019s less-hawkish rate comments pulled Treasury yields lower, weakened the U.S. dollar and gave precious metals room to extend Wednesday\u2019s rebound. At the time of writing, spot gold was trading near $4,471.10 an ounce, up 1.92%, while spot silver was trading at $66.830, up 2.49% on the session.<\/p>\n

North American equity markets closed sharply higher as technology shares led a broad risk rebound. The S&P 500<\/a> rose 81.11 points, or 1.1%, to 7,747.71, the Dow Jones Industrial Average<\/a> gained 624.16 points, or 1.2%, to 53,686.11, and the Nasdaq Composite<\/a> added 366.23 points, or 1.4%, to 26,584.06. European markets also finished higher, with the STOXX Europe 600 up 0.49% to 649.10. London\u2019s FTSE 100<\/a> rose 0.70% to 10,831.52, Germany\u2019s DAX<\/a> gained 0.63% to 26,003.32, France\u2019s CAC 40<\/a> added 0.07% to 8,286.40 and Italy\u2019s FTSE MIB rose 0.88% to 52,245.47.<\/p>\n

The latest positioning shifted back toward a Fed pause after Waller said he would be inclined to keep rates unchanged if next week\u2019s inflation data continue to cool. September hike odds fell to about 50.4% from 63.2% Wednesday, while the two-year Treasury yield slid to 4.34% and the 10-year yield dropped to 4.77%. The services data were not uniformly dovish: the ISM services index rose to 55.4 in August from 54.1, prices paid climbed to 72.6, the highest reading since October 2022, and employment remained in contraction at 47.8. That mix leaves Friday\u2019s August nonfarm payrolls report and the Sept. 11 CPI release as the next two decisive inputs for Fed pricing. For gold, the signal is constructive but conditional: lower yields and a softer dollar support the rebound, while firm services demand and sticky input prices keep the inflation channel alive.<\/p>\n

Precious metals rallied because the yield shock paused, not because the inflation problem disappeared. Gold bounced from Wednesday\u2019s $4,281.70 low, traded as high as $4,511.70 and moved back toward the $4,489.87 to $4,538.77 retracement band flagged in the latest technical work. Silver pushed to $67.60 before easing, reclaiming the $66.00 decision level but still stopping short of the more important $67.21 to $68.74 resistance ladder. The short-term setup now depends on payrolls: a softer report would validate the Waller pause trade, while a firmer jobs and wage print would put the dollar and front-end yields back in control.<\/p>\n

The Strait of Hormuz remains the main geopolitical channel into oil, inflation expectations and defensive demand, but Thursday\u2019s market impact was smaller than earlier in the week. Iran fired at Kuwait in retaliation for U.S. bombardments, and fighting has intensified since U.S. strikes hit Iranian rocket launchers on an island in the strait. Oil ended little changed after an early rise, with WTI settling at $91.30 a barrel and Brent at $95.52. For gold, the setup remains supportive but conflicted: Hormuz risk keeps a defensive bid under bullion, while crude near six-week highs sustains inflation pressure and limits how far Fed-rate relief can run.<\/p>\n

The key outside markets see Nymex WTI crude oil prices firmer and trading around $91.30 a barrel, while Brent crude was near $95.52. The yield on the benchmark 10-year U.S. Treasury note is trading near 4.77%. The U.S. dollar index is softer.\u00a0(Kitco Global Index<\/a> shows how much of today’s gold move is the dollar versus the gold market itself.)<\/p>\n

\"Live<\/a><\/p>\n

Technically, spot\u00a0gold<\/a> bulls’ next upside price objective is to push prices back above the $4,489.87 resistance level, with a sustained move targeting $4,532.67 and then $4,538.77. Bears’ next near-term downside price objective is a break below $4,369.00, with deeper downside targets at $4,301.00 and then $4,263.00. First resistance is seen at $4,489.87 and then at $4,532.67. First support is seen at $4,369.00 and then at $4,301.00.<\/p>\n

\"Live<\/a><\/p>\n

Spot\u00a0silver<\/a> bulls’ next upside price objective is to drive prices back above $67.21, with a move above that level targeting $68.74 and then $72.08. The next downside price objective for the bears is a break below $65.26, with deeper downside targets at $63.70 and then $62.57. First resistance is seen at $67.21 and then at $68.74. Next support is seen at $65.26 and then at $63.70.<\/p>\n

See live\u00a0precious metals prices<\/a> for gold, silver, platinum and palladium \u2014 in USD, CAD and 12 more currencies.\u00a0<\/p>\n

<\/a><\/p>\n

Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"(Kitco NewsWire) – Spot\u00a0gold and\u00a0silver prices are sharply higher in late-afternoon U.S. trading Thursday, as Fed Governor Christopher…\n","protected":false},"author":2,"featured_media":605311,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[13286,13278,13282,1152,13277,4404,13280,13279,13281,12858,1247,42,13285,6453,13269,13287,13274,13288,13276,43,13271,13272,13270,13273,238,13275,13284,450,2796,13283,40,38,41,39,7549],"class_list":["post-605310","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-bank-forecasts","tag-bitcoin-news","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-headlines","tag-international-policy","tag-interviews","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-tech-metals","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/605310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=605310"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/605310\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/605311"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=605310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=605310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=605310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}