Gold climbs as dollar and Treasury yields slip
GLD•Spot gold rose 0.7% to $4,168.33 per ounce as the dollar eased and U.S. Treasury yields edged lower. TD Securities said it expects gold to rise above $5,000 per ounce in 2027.
1. Gold gains
Spot gold rose 0.7% to $4,168.33 per ounce, while U.S. gold futures settled 0.7% higher at $4,187.10. The move came as the dollar eased from a one-year high and 10-year Treasury yields edged lower.
2. Investors await Fed minutes
Investors were awaiting minutes from the Federal Reserve’s September meeting, due Wednesday, for clues on its monetary policy outlook. Traders saw a 22% chance of a rate increase this month and an 84% probability of an increase in December.
3. TD Securities outlook
TD Securities analysts said ongoing ETF buying and discretionary investor demand continued to support gold, and maintained their view that the metal would move above $5,000 per ounce in 2027.
