Rate Hike Expectations Ease, Boosting Gold and Silver Prices

The prices of gold and silver remained firm on August 18 as expectations of a US interest rate hike in September eased. This change in outlook is driven by recent US economic data, which has reduced the likelihood of tighter monetary policy.

Gold was trading at $4,467.70 an ounce on COMEX, down $6 or 0.13% from its previous close. Silver was at $66.07 an ounce, down 0.24% from its previous close.

The Federal Reserve's policy outlook has become a key market trigger, and markets are now waiting for the minutes of the Fed's latest meeting, due on August 19. If the Fed signals a less aggressive approach to interest rates, gold and silver could get further support.