Gold price tops $4,500 in New York as tame US inflation cools Fed hike bets
Traders still put a 40% chance on a September Fed hike, and Saxo Bank says bullion's real test is the 200-day moving average just below $4,500.
Traders still put a 40% chance on a September Fed hike, and Saxo Bank says bullion's real test is the 200-day moving average just below $4,500.
BELLINGS Intelligence Score: 62
Why it matters
The gold price surpassing $4,500 amid softer US inflation data signals a meaningful shift in market expectations for Federal Reserve rate hikes, directly impacting credit market conditions and borrowing costs.
Sources
Mining.com
Gold price tops $4,500 in New York as tame US inflation cools Fed hike bets
Traders still put a 40% chance on a September Fed hike, and Saxo Bank says bullion's real test is the 200-day moving average just below $4,500.