Gold edges up as dollar and Treasury yields slip
GLD•Spot gold rose 0.6% to $4,163.16 per ounce and U.S. gold futures gained 0.8% to $4,191 as the dollar and Treasury yields eased. TD Securities analysts said they expect gold to move above $5,000 per ounce in 2027.
1. Gold gains on Tuesday
Gold rose as the U.S. Treasury yield rally paused and the dollar weakened, with investors awaiting minutes from the Federal Reserve’s September meeting. Spot gold was up 0.6% at $4,163.16 per ounce, while December U.S. gold futures added 0.8% to $4,191.
2. Investors await Fed minutes
U.S. 10-year Treasury yields edged lower after reaching a more than two-decade high on Monday, and the dollar eased from a one-year high. Traders saw a 22% chance of a rate increase this month and an 84% probability of an increase in December. Markets pared bets on a hike this month after September job growth came in softer than expected.
3. TD Securities forecast
TD Securities analysts said ongoing ETF buying and discretionary investor demand continued to support gold, and maintained their view that prices would move above $5,000 per ounce in 2027. Silver rose 0.5% to $61.32, while platinum fell 1% to $1,703.40 and palladium declined 0.2% to $1,170.55.
