Gold Faces Year-End Downward Pressure..."90% Odds of Fed Rate Hike in December" - BigGo Finance

AI desk brief

Gold is facing year-end downside pressure as markets price a 90% chance of a December Fed hike, with hotter U.S. inflation and hawkish Fed commentary pushing real yields and the dollar higher. Spot gold slipped 0.1% to $4,165.12/oz and is now about 25% below its January 28 peak of $5,589/oz, while December futures rose 0.3% to $4,181.10/oz.

The article cites Capital Economics’ Hamad Hussain and TD Securities’ Bart Melek as both seeing further modest downside or range-bound trade, with support levels being tested. Silver fell 0.7% to $57.05/oz, platinum was flat at $1,626.15/oz, and palladium dropped 1.1% to $1,113.61/oz, leaving the broader precious-metals complex weaker into year-end Fed risk.