Gold Rebounds From One-Month Low as Dollar Retreats

2026-09-02 15:31 By Joana Ferreira 1 min. read

Gold rose above $4,360 an ounce in afternoon trading Wednesday, recovering from a near one-month low touched earlier, as the USD and Treasury yields pulled back from recent highs, while investors await US payrolls data due Friday for further clues on the Federal Reserve’s policy path.

Oil prices hit fresh six-week highs as traders weighed elevated supply risks from ongoing Middle East hostilities against signs that crude was still reaching the market.

Meanwhile, the latest ADP report showed US private businesses added 38,000 jobs in August, the weakest increase since January and below expectations of 47,000, pointing to a broader cooling in the labor market.

Markets now price in a 66% chance of a September Fed hike, up from around 40% a week ago, according to the CME FedWatch Tool.

Elsewhere, the Dutch central bank said it had transferred 86 metric tons of gold from New York and Ottawa to London over the past six months to improve tradability and strengthen crisis preparedness.



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Gold Rebounds From One-Month Low as Dollar Retreats
Gold rose above $4,360 an ounce in afternoon trading Wednesday, recovering from a near one-month low touched earlier, as the USD and Treasury yields pulled back from recent highs, while investors await US payrolls data due Friday for further clues on the Federal Reserve’s policy path. Oil prices hit fresh six-week highs as traders weighed elevated supply risks from ongoing Middle East hostilities against signs that crude was still reaching the market. Meanwhile, the latest ADP report showed US private businesses added 38,000 jobs in August, the weakest increase since January and below expectations of 47,000, pointing to a broader cooling in the labor market. Markets now price in a 66% chance of a September Fed hike, up from around 40% a week ago, according to the CME FedWatch Tool. Elsewhere, the Dutch central bank said it had transferred 86 metric tons of gold from New York and Ottawa to London over the past six months to improve tradability and strengthen crisis preparedness.
2026-09-02
Gold Stabilizes as Markets Reassess Fed Rate Outlook
Gold stabilized around $4,330 an ounce Wednesday after a recent selloff pushed bullion to its lowest level in more than three weeks, as investors reassessed the outlook for Federal Reserve interest rates following a pause in the oil rally and weaker-than-expected US labor data. US private businesses added 38,000 jobs in August, the weakest increase since January and below expectations of 47,000, pointing to a broader cooling in the labor market. Markets now price in a 66% chance of a September Fed hike, compared with around 40% a week ago, according to the CME FedWatch Tool. Gold remained under pressure as the dollar held near a two-week high, supported by safe-haven demand amid concerns over the economic impact of the energy shock and diverging monetary policy paths. The US said it had launched overnight airstrikes on targets in Iran, prompting retaliation from Tehran in the most serious escalation between the two countries in weeks.
2026-09-02
Gold Holds Losses on Rate Hike Bets
Gold traded near $4,300 an ounce on Wednesday, hovering close to its lowest in over three weeks as investors assessed the prospects of Federal Reserve interest rate hikes following a sharp rise in global bond yields and oil prices. Global bond yields climbed amid mounting inflationary pressures and growing expectations of imminent rate hikes, with US Treasury yields reversing the decline triggered by Secretary Scott Bessent’s announcement of an expanded buyback program. Fed Chair Kevin Warsh’s pledge to combat inflation further reinforced the hawkish outlook, with markets now pricing in around a 70% chance of a Fed rate hike this month. Attention now turns to the ADP employment report due Wednesday and Friday’s nonfarm payrolls for further clues on the Fed’s policy path. Meanwhile, oil prices extended gains amid escalating hostilities between the US and Iran, further heightening inflation risks.
2026-09-02