Gold holds near $4,400 as fading Fed rate hike bets weigh on dollar
Gold is holding modest gains near $4,400 while the US dollar remains under pressure as expectations fade that the Federal Reserve will raise rates in September.
XAUUSD
Gold (XAU/USD) held modest gains on Monday near the $4,400 level, although it struggled to build on its intraday advance. The metal was supported by a softer US dollar.
USD remained under selling pressure as market expectations faded that the Federal Reserve will raise interest rates at its September policy meeting.
With rate-hike bets scaling back, the dollar’s weakness helped keep gold close to the key $4,400 area.
Source: FXStreet Forex News