Gold holds losses
Gold hovered around $3,730 per ounce on Thursday, holding losses from the previous session, as markets continued to weigh the Federal Reserve’s rate outlook.
Chair Jerome Powell struck a cautious tone, emphasizing the challenge of balancing persistent inflation with a slowing labor market, while Fed officials remain divided, some projecting two additional rate cuts this year, with others favoring a more measured approach and some advocating more aggressive easing.
US new-home sales also unexpectedly surged in August to its fastest pace since early 2022, easing fears of an economic slowdown and further complicating the outlook for additional rate cuts.
Meanwhile, gold’s safe-haven appeal remained supported by geopolitical tensions, with NATO warning Russia it would use “all necessary military and non-military measures” to defend itself, while President Trump said Ukraine could reclaim all territory held by Russia.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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