Gold Rebounds to $4,376 as Dollar Weakens and Rate Hike Expectations Fall

Gold prices rebounded on Friday after falling in the previous session, reaching $4,376.02 per troy ounce according to Reuters.

The recovery was driven by a weaker US dollar and reduced expectations of a September Federal Reserve rate hike, which supported bullion prices.

Despite the rebound, gold remains sensitive to profit-taking after its recent surge, with some traders cautious around the psychologically important $4,500 level.

Geopolitical uncertainty continues to underpin demand for traditional safe-haven assets like gold, while oil prices and developments surrounding the Strait of Hormuz remain closely watched by precious-metals investors.