Gold Rebounds Past $4,400 Amid Cooling Rate-Hike Odds
Gold prices rebounded past $4,400 on Thursday as rate-hike odds cooled down ahead of the upcoming US nonfarm payrolls report. The metal has been consolidating after a volatile first eight months of 2026, still sitting roughly 21% below its all-time high above $5,600.
The soft ADP jobs data and dovish Federal Reserve commentary tempered expectations of aggressive Fed tightening that had built up after hawkish remarks from Fed Chair Kevin Warsh. New York Fed President John Williams said there is evidence US inflation is continuing to ease as the impact of tariffs fades, adding that higher energy prices are not spreading into other services.
The US nonfarm payrolls report due on Friday will be a key event for gold traders. A weak official payrolls print would further unwind September rate-hike bets and give gold a clear run at $4,489 and the 200-day MA near $4,528.