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Gold rises above $4,150 as dollar eases and rate-hike bets cool
Gold extended its rebound after slipping to a two-month low near $4,100, with the pullback in October Fed hike expectations and a pause in the dollar supporting prices.
Gold extended its intraday rebound on Tuesday, climbing above $4,150 after bouncing from the $4,100 area, where it had reached a two-month low, according to FXStreet.
FXStreet said a recent strong USD rally appeared to be pausing, providing some support to non-yielding bullion.
The outlet also pointed to receding expectations for an October Federal Reserve rate hike as another factor behind the move.
However, FXStreet noted that traders were still pricing in more than an 85.0% chance the Fed will raise borrowing costs again by the end of the year, keeping caution on further upside.
Latest closeGold $4,150.40 ▼0.3%