Gold prices recover from two-month low as dollar rally stalls
Gold prices saw a slight recovery after hitting a two-month low, influenced by investor reactions to Federal Reserve meeting minutes regarding future interest rates. Market participants are weighing the impact of potential rate hikes against geopolitical tensions in the Middle East.
Why it matters
Gold is a key indicator of market sentiment and inflation hedging, making its price fluctuations critical for global financial stability.
Gold prices edged up on Thursday after hitting a two-month low in the previous session, as investors assessed the minutes of the US Federal Reserve's September meeting for clues on its interest rate trajectory.
Spot gold rose 0.3% to $4,122.99 per ounce by 0916 GMT, having touched its lowest level since August 5 on Wednesday as a firmer dollar and higher US Treasury yields weighed.
US gold futures for December delivery added 0.18% to $4,147.90.
Fed policymakers were divided last month over the rationale for raising rates, with "some participants" seeing a hike as needed to keep the impact of energy and other price shocks at bay, but a more hawkish core viewing it as necessary to guard against emerging demand-driven inflation, theminutes showed.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in