Gold ticks higher on softer Fed outlook as strong dollar limits gains
GLD•Spot gold rose 0.2% to $4,152.19 an ounce as traders cut the odds of an October Fed rate hike to 22% from about 70% last week. A stronger dollar and elevated Treasury yields limited gains.
1. Gold edges higher
Gold prices ticked up on Monday after investors lowered expectations for a Federal Reserve rate hike this month. Spot gold rose 0.2% to $4,152.19 per ounce, while December U.S. gold futures added 0.4% to $4,180.30.
2. Rate bets and dollar
Traders priced in a 22% chance of an October rate hike, compared with about 70% last week, and an 84% chance of a December increase. A stronger dollar and elevated 10-year Treasury yields limited gold’s gains. Investors awaited minutes of the September Federal Open Market Committee meeting, due Wednesday.
3. Metals outlook
Metals Focus expects gold to reach all-time highs in 2027 and forecasts an average price of $5,330 per ounce next year. Silver rose 1.9% to $61.53 per ounce, platinum gained 1.6% to $1,724.65, and palladium added 1.2% to $1,181.75.
