Hike Odds Offset Yield Pressure — BigGo Finance

Add preferred source Gold rose to $4,168.89 as markets slashed the probability of an October Federal Reserve rate hike to about 21% following weak U.S. jobs data. The advance came despite Treasury yields above 5% and a strong dollar. Record ETF holdings of 4,189 tonnes and continued central-bank buying, including 22 consecutive months of purchases by China, have offset the drag from elevated rates. Gold now represents about 27% of global official reserves, surpassing U.S. Treasuries as institutions diversify away from dollar assets. Morgan Stanley has identified $4,000 as a key support level, citing strong physical demand and the prospect of lower yields. Key Elements Gold Federal Reserve Morgan Stanley World Gold Council U.S. Treasury China's central bank Exchange-traded fund Gold advanced on Monday, pushing back above $4,160 as investors recalibrated expectations for Federal Reserve policy following a surprisingly weak U.S. jobs report.