Gold Climbs Above $4,100 as Traders Scale Back Fed Rate Hike Wagers
Gold rose above $4,100 in early Asian trading Friday as markets scaled back Fed rate hike bets following unclear comments from Chair Kevin Warsh.
XAUUSD
Gold (XAU/USD) advanced to around $4,110 during Friday’s early Asian session, extending its upward momentum as traders reassess the interest rate outlook.
A day after Federal Reserve Chair Kevin Warsh offered little clarity on future policy moves, market participants reduced their expectations for further rate hikes. This shift lowered the opportunity cost of holding non-yielding bullion, supporting prices.
The precious metal is now trading firmly above the $4,100 mark, with investors closely monitoring incoming signals from Fed officials for more definitive direction.
Source: FXStreet Forex News