Commodities
Gold Stands Firm Near $4,400 Amid Cooling Rate Hike Bets
Gold is holding steady near $4,400 per ounce as the Federal Reserve's rate hike bets continue to cool down. This has put pressure on the US Dollar, making gold cheaper for foreign buyers and boosting demand.
The dollar index has slipped in recent sessions as traders reassess the likelihood of further rate hikes, with futures pricing indicating a lower probability of a move at the next Fed meeting.
Central banks' persistent buying and geopolitical uncertainties have also contributed to gold's resilience. Emerging markets are diversifying their reserves away from the dollar, adding to gold's appeal as a safe-haven asset.