Forex
Gold Rebounds Above $4,400 Amid Soft Dollar and Easing Inflation Fears
Gold prices rebounded on Thursday, reaching $4,429.23 an ounce after a 1% gain in the previous session.
The metal's rise was driven by a softer dollar and lower Treasury yields, which eased some of the pressure from recent Federal Reserve rate hike bets.
Federal Reserve Bank of New York President John Williams said there is evidence that U.S. inflation is continuing to ease as the impact of tariffs fades.
He also noted that higher energy prices are not spreading into other services, further tempering expectations for aggressive Fed tightening.
The latest labor market data added to this softer backdrop, with U.S. companies adding 38,000 jobs in August, according to the ADP employment report.