Gold Holds Firm on Easing Rate Hike Expectations and Softening Dollar

The price of gold has stabilized around $4,400 after breaking through a week-long consolidation phase and finding support below $4,000.

This rebound is supported by several factors, including easing rate hike expectations, a softer US dollar, and renewed investment demand.

Recent data shows that the Federal Reserve may struggle to raise rates further, with Goldman Sachs chief economist Jan Hatzius describing a September increase as 'very unlikely'.

The dollar has also begun to roll over after its recent strength, providing another tailwind for gold prices.