Gold Holds Near $4,175 as Warsh Speech Cuts October Rate-Hike Bets
Updated
Updated · Bloomberg · Oct 16
Gold Holds Near $4,175 as Warsh Speech Cuts October Rate-Hike Bets
3 articles · Updated · Bloomberg · Oct 16
Summary
Gold steadied around $4,175 an ounce after posting its biggest daily gain in more than two weeks.
Kevin Warsh’s remarks in Bangkok gave traders little reason to expect a Fed rate increase this month, reinforcing bets that policymakers will hold steady in October.
Lower rate-hike expectations and softer yields supported bullion, while haven demand stayed in focus ahead of the Fed’s meeting in two weeks.
Saturday starts the Fed’s pre-meeting media blackout, leaving markets with few fresh policy clues until the decision.