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Fed Rate Hike Bets Keep Gold Prices in Check

Guavy AI Editorial Team
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Gold
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Gold prices remained steady in early Asian trade on Thursday as investors weighed the likelihood of further Federal Reserve interest rate hikes this year.

Fundamental analysis shows that spot gold was flat at $4,285.31 per ounce as of 0022 GMT, while US gold futures for December delivery were little changed at $4,321.40.

The strengthening economy and mounting inflation pressures have pushed the Fed towards a rate hike on the eve of critical national elections, with traders betting on a second straight policy tightening in late October.

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