Gold Prices Rise Above $4,200 in Futures Trading as Fed Rate Hike Expectations Ease - Yahoo Finance

AI desk brief

Gold futures pushed back above $4,200/oz while spot gold rose 0.4% to $4,180.29/oz as markets trimmed odds of another Fed rate hike to below 20% after comments from Chair Kevin Warsh. Silver, platinum and palladium also gained, while the dollar was broadly flat; the move followed last week’s 0.7% bullion drop after hotter-than-expected US inflation data had lifted tightening fears.

ANZ said elevated sovereign borrowing costs, fiscal sustainability concerns, Chinese investment demand and central-bank reserve diversification are supporting the longer-term bull case, but it still sees near-term upside as limited with the possibility of further selling before a sustained recovery. The bank reiterated a bullish structural view and forecasts gold above $5,000/oz in 2027, contingent on Fed policy, the dollar and global bond yields.