Commodities
Gold Prices Rebound on Soft US Data and China's Golden Week
Gold prices rebounded on Tuesday, climbing 1.3% to $4,174.08 an ounce as softer US economic data and China's Golden Week holiday season lifted demand hopes.
The metal had briefly tumbled by as much as 4% on Monday due to rising US bond yields and firmer oil prices that revived inflation concerns.
However, the release of two US data points - job openings falling to 7.079 million in August and consumer confidence slipping to 81.9 points in September - cooled investors' expectations for further tightening.
New York Federal Reserve President John Williams stated there was no urgency for immediate follow-up moves after September's rate hike, causing market-implied odds of another increase in October to drop from roughly 70% to about 50%.