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Commodities

Gold Prices Rise Amid Easing US Dollar

Guavy AI Editorial Team
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Gold Silver
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Gold prices surged on September 3 as the US dollar and bond yields eased. October gold futures rose 1.01% to Rs. 1,53,940 per 10 grams, while September silver futures advanced 1.23% to Rs. 2,32,763.

The CME FedWatch Tool suggests that markets are pricing in a 27.7% probability of the Federal Reserve keeping rates unchanged and a 62.3% chance of a rate hike in September.

US gold prices firmed on Thursday as investors awaited the US nonfarm payrolls data, which could shape expectations for the next policy move.

Ilya Spivak, head of global macro at Tastylive, said that if the jobs report misses expectations and September rate hike bets decline, gold could move higher.

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