Gold rose for a second straight session on Friday, touching a one-week high, as bargain buying emerged after bullion fell to two-month low earlier this week, while traders assessed the likelihood of further US Federal Reserve interest rate hikes.<\/p>\n
Spot gold rose 1.5 percent to $4,194.36 per ounce by 03:29 p.m. EDT (1929 GMT), heading for a weekly gain of about 1.3 percent.<\/p>\n
The metal fell to a two-month low on Wednesday as a stronger dollar and rising US Treasury yields weighed on the non-yielding metal.<\/p>\n
US gold futures for December delivery gained 1.4 percent to settle at $4,216.3. Bullion gained due to \u201cbargain hunting at the lows, as a floor has been building in the $4,000-region,\u201d said Rhona O\u2019Connell, head of market analysis at Stone X.<\/p>\n
\u201cIt is arguable that a further Fed hike is already priced in but so is the expectation for continued official sector net purchases. Without any Black Swan event I find it hard to see gold breaking convincingly higher.\u201d<\/p>\n
US 10-year Treasury yields were off over two-decade highs hit on Wednesday.<\/p>\n
St. Louis Fed President Alberto Musalem said on Thursday the US central bank [will need to hike rates again to bring inflation back to its 2 percent target](https:\/\/www.reuters.com\/world\/india\/gold-rises-softer-dollar-easing-yields-fed-outlook-focus-2026-10-09\/).<\/p>\n
Traders are pricing in a 19 percent chance of a rate hike in October and an 84 percent probability of at least one 25-basis-point increase by December, according to the CME\u2019s FedWatch tool.<\/p>\n
Gold tends to lose its appeal compared to yield-bearing assets in a high interest-rate environment.<\/p>\n
\u201cThe coming week\u2019s CPI release may act as a catalyst for gold\u2019s next big move… Still-stubborn inflation that pushes the Fed into a steeper rate-hike cycle may force spot gold to re-test the psychological $4,000 support once more,\u201d said Han Tan, chief market analyst at Bybit.<\/p>\n
Meanwhile, gold demand in India was sluggish this week as prices rebounded, while trading in top consumer China was subdued during the holiday-truncated trading period.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold rose for a second straight session on Friday, touching a one-week high, as bargain buying emerged after…\n","protected":false},"author":2,"featured_media":643524,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46],"class_list":["post-643523","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/643523","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=643523"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/643523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/643524"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=643523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=643523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=643523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}