Gold edges up after hitting two-month low as markets weigh Fed rate path - The Edge Malaysia

AI desk brief

Gold edged up 0.3% to US$4,122.99/oz after hitting a two-month low the prior session, with December futures at US$4,147.90 as traders weighed the Fed’s September minutes against a stronger dollar and higher Treasury yields. The key near-term driver is policy repricing: markets see only a 21.6% chance of an October hike but an 85% probability in December, keeping non-yielding gold under pressure.

Supportive risk factors remain from geopolitics and inflation fears, but the technical setup is fragile. FXTM’s Lukman Otunuga said a sustained break below US$4,100 could expose US$4,000, while a hold above that level could open a rebound toward US$4,200. Silver fell 2.2% to US$58.8476/oz, while platinum and palladium outperformed, rising 1.6% and 0.8% respectively.