Gold Rebounds as Fed Rate-Hike Bets Fade

2026-09-03 13:44 By Joana Ferreira 1 min. read

Gold climbed to around $4,470 an ounce on Thursday, rebounding from more than three-week lows as the US dollar and Treasury yields retreated from recent highs following dovish comments from Federal Reserve officials.

Markets scaled back expectations for a Federal Reserve rate hike after Fed Governor Christopher Waller said he sees continued progress on inflation and would support keeping interest rates unchanged at the September meeting if that improvement is confirmed in the August data.

Waller's comments followed remarks Wednesday from New York Fed President John Williams, who said there is evidence that inflation continues to ease as the impact of tariffs fades.

A weaker-than-expected ADP employment report, meanwhile, pointed to a slowdown in the US labor market.

Traders now see roughly a 50% probability of a September rate hike, down from about 62% before Waller's comments.

Investors now await Friday's payrolls report and next week's inflation data for further clues on Fed policy.



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Gold Rebounds as Fed Rate-Hike Bets Fade
Gold climbed to around $4,470 an ounce on Thursday, rebounding from more than three-week lows as the US dollar and Treasury yields retreated from recent highs following dovish comments from Federal Reserve officials. Markets scaled back expectations for a Federal Reserve rate hike after Fed Governor Christopher Waller said he sees continued progress on inflation and would support keeping interest rates unchanged at the September meeting if that improvement is confirmed in the August data. Waller's comments followed remarks Wednesday from New York Fed President John Williams, who said there is evidence that inflation continues to ease as the impact of tariffs fades. A weaker-than-expected ADP employment report, meanwhile, pointed to a slowdown in the US labor market. Traders now see roughly a 50% probability of a September rate hike, down from about 62% before Waller's comments. Investors now await Friday's payrolls report and next week's inflation data for further clues on Fed policy.
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Gold Extends Gain as Dollar, Treasury Yields Retreat
Gold climbed above $4,400 an ounce on Thursday, extending the previous session's rebound as a pullback in the dollar and Treasury yields provided some relief. New York Fed Bank President John Williams said there is evidence that inflation continues to ease as the impact of tariffs fades, while higher energy prices have yet to spill over into other services. Data on Wednesday also showed that US private employment growth slowed in August. Still, markets are pricing in around a two-thirds chance of a Fed rate hike later this month following Chair Kevin Warsh’s hawkish remarks on Friday. Elsewhere, oil prices halted their rally after President Donald Trump said the latest attacks on Iran would be short-lived while indicating that the US stands ready for further strikes, easing inflation concerns and providing additional support to bullion.
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Gold Rebounds From One-Month Low as Dollar Retreats
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