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Gold rises toward $4,150 as traders weigh the Fed rate path
Gold rebounded from a two-month low to around $4,140 during the early Asian session.
Gold prices inched higher to around $4,140, with the metal moving toward $4,150 during the early Asian session on Friday, according to FXStreet.
The report said gold is rebounding from a two-month low as traders assess the outlook for energy prices and weigh uncertainty around the Federal Reserve's interest rate path.
FXStreet added that the Fed minutes from the most recent meeting showed policymakers backing the September rate hike and most participants saying another increase in the federal funds rate target range would likely be appropriate by year end.
It also noted remarks from US President Donald Trump about the US not attacking Iran before the midterm elections and referenced Fed Governor Christopher Waller saying further rate hikes would likely be needed, with flexibility on the pace.
Latest closeGold $4,157.80 ▲0.4%