Gold holds near record highs as markets await U.S. inflation data and Fed signals
Tehran - BORNA - Spot gold was last unchanged at $3,762.05 an ounce after hitting a record $3,790.82 on Tuesday. U.S. gold futures for December delivery slipped 0.6% to $3,794.50.
The U.S. dollar index hovered near a one-week low, making dollar-priced bullion cheaper for foreign buyers and helping gold sustain its elevated levels.
Fed’s balancing act
On Tuesday, Powell said the Fed must strike a balance between the risks of persistently high inflation and a weakening labor market when setting future policy. Traders are now closely watching upcoming U.S. data, including weekly jobless claims due Thursday and the Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge.
According to CME’s FedWatch tool, markets are pricing in two additional 25-basis-point rate cuts before year-end, with a 93% probability of a cut in October and a 77% chance of another in December.
OECD outlook and trade concerns
The Organization for Economic Cooperation and Development (OECD) in its latest outlook warned that the full impact of U.S. tariff hikes has yet to materialize. So far, companies have absorbed much of the shock through lower profit margins and inventory adjustments. Analysts note that further fallout from trade tensions could amplify demand for gold as a safe-haven asset.
Other precious metals
Elsewhere in the metals market, silver held steady at $44.02 per ounce. Platinum was also unchanged at $1,478.15, while palladium fell 0.4% to $1,214.78.
Gold’s resilience near record highs reflects heightened investor caution amid monetary policy uncertainty, trade pressures, and global economic headwinds — factors that continue to fuel demand for safe-haven assets.
End Article